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        Case ID :
        IBC

        NCLAT upheld CoC's discretion in approving resolution plan based...

        Security Interest Priority Outweighs Vote Share in CoC Resolution Plan Approval Under Section 30(4)

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                NCLAT upheld CoC's discretion in approving resolution plan based on security interest rather than vote share of financial creditors. The tribunal confirmed that post-amendment Section 30(4) empowers CoC to consider security interest priority while approving distribution mechanism. The dissenting financial creditor's claim for distribution based on security interest was rejected as the approved plan satisfied Section 30(2)(b) requirements by offering above liquidation value. The CoC's commercial wisdom in choosing distribution method was deemed final and binding on all creditors. The appeal challenging the Adjudicating Authority's order was dismissed, affirming that CoC's decision aligned with statutory provisions and required no interference.
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