NCLT Allahabad disposes of Edelweiss ARC's applications challenging Usha India's asset valuation and resolution plan.
Tribunal rejects the resolution plan approved by CoC, citing lack of genuine revival framework for the defunct corporate debtor.
The order follows a disputed valuation of a Delhi property, initially worth ~₹7.5cr but later revised to nil.
Corporate Insolvency Resolution Process concludes, liquidation of Usha India Limited is ordered.