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Union Bank contests NCLT-approved plan for Lavasa Corp, seeks revocation

"In spite of clear directions from this Tribunal to place the modified or fresh resolution plan before the consolidated CoC (committee of creditors) for their consideration, the respondent no 1 (Verma) with malafide intention and in connivance with the respondent 2 (DPIL) instead of placing the modified or fresh resolution plan and without taking into account valuation of assets of the debtor at that point of time, or February 2023," which the bank s petition said misrepresented facts.

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