Section 33(1A) gives the Adjudicating Authority residual...

Section 33(1A) gives the Adjudicating Authority residual judicial discretion to restore CIRP; it is not confined to a formal compliance review. Where statutory conditions are met and the Committee of Creditors unanimously supports restoration after deliberation, refusal requires cogent, relevant reasons consistent with value maximisation and the resolution-first objective. Unsubstantiated concerns over monetisation of carried-forward tax losses, without notice or supporting material, cannot displace that decision; tax treatment remains for tax authorities. The availability of an arbitral claim in liquidation requires comparison of value, timing, cost, risk and market interest under both routes. A reasoned order must engage with creditors' deliberations and explain any departure from treating liquidation as a last resort.