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Insolvency and BankruptcyFebruary 2, 2024Case LawsAT
Approval of Resolution Plan - The NCLAT found no error in the adjudicating authority's decision, emphasizing the paramount importance of the commercial wisdom of the Committee of Creditors (CoC) in the insolvency resolution process. The Tribunal clarified that the determination of the net present value (NPV) of financial proposals and the allocation of marks based on the evaluation matrix are within the CoC's commercial wisdom and are not justiciable.
Approval of Resolution Plan - The NCLAT found no error in the adjudicating authority's decision, emphasizing the paramount importance of the commercial wisdom of the Committee of Creditors (CoC) in the insolvency resolution process. The Tribunal clarified that the determination of the net present value (NPV) of financial proposals and the allocation of marks based on the evaluation matrix are within the CoC's commercial wisdom and are not justiciable.
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