https://www.taxtmi.com/caselaws?id=379163 The court upheld the Committee of Creditors' (CoCs) authority to reject a Resolution Plan based on commercial considerations, emphasizing the need to balance creditor interests and Corporate Debtor viability. The judgment established that CoCs' commercial decisions are non-justiciable, and rejection cannot be challenged unless on specific statutory grounds. The Applicant's challenge to the rejection was dismissed for lacking merit, affirming the CoCs' discretion in evaluating Resolution Plans. en-us Tue, 12 Mar 2019 00:00:00 +0530 Mon, 29 Apr 2019 06:28:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379163 The court upheld the Committee of Creditors' (CoCs) authority to reject a Resolution Plan based on commercial considerations, emphasizing the need to balance creditor interests and Corporate Debtor viability. The judgment established that CoCs' commercial decisions are non-justiciable, and rejection cannot be challenged unless on specific statutory grounds. The Applicant's challenge to the rejection was dismissed for lacking merit, affirming the CoCs' discretion in evaluating Resolution Plans. Case-Laws Insolvency and Bankruptcy Tue, 12 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379163