https://www.taxtmi.com/caselaws?id=388482 SC upheld the constitutional validity of Sections 4 and 6 of the Insolvency and Bankruptcy Code (Amendment) Act, 2019. The Court set aside NCLAT's judgment that substituted judicial wisdom for the commercial wisdom of the Committee of Creditors. SC clarified that resolution professionals must manage corporate debtors as going concerns, Committee of Creditors' business decisions require 66% majority approval, and Adjudicating Authority's review is limited under Section 30(2). The Court emphasized that successful resolution applicants must operate on a fresh slate, with all claims decided during CIRP. Appeals by Committee of Creditors were allowed, except for specific civil appeals which were dismissed. en-us Fri, 15 Nov 2019 00:00:00 +0530 Wed, 16 Jul 2025 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388482 SC upheld the constitutional validity of Sections 4 and 6 of the Insolvency and Bankruptcy Code (Amendment) Act, 2019. The Court set aside NCLAT's judgment that substituted judicial wisdom for the commercial wisdom of the Committee of Creditors. SC clarified that resolution professionals must manage corporate debtors as going concerns, Committee of Creditors' business decisions require 66% majority approval, and Adjudicating Authority's review is limited under Section 30(2). The Court emphasized that successful resolution applicants must operate on a fresh slate, with all claims decided during CIRP. Appeals by Committee of Creditors were allowed, except for specific civil appeals which were dismissed. Case-Laws IBC Fri, 15 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388482