https://www.taxtmi.com/caselaws?id=392249 The National Company Law Tribunal upheld the Committee of Creditors' decision to liquidate the corporate debtor, M/s. Santosh Overseas Limited, due to the absence of an acceptable resolution plan. The Tribunal appointed Mr. Rohit Sehgal as the Liquidator and issued directives for the liquidation process in line with the Insolvency and Bankruptcy Code, 2016. The CoC's commercial decision for liquidation was deemed valid, emphasizing the CoC's authority in making such decisions, which are not typically subject to judicial review unless there are statutory violations or breaches of natural justice principles. en-us Fri, 27 Sep 2019 00:00:00 +0530 Sun, 16 Feb 2020 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392249 The National Company Law Tribunal upheld the Committee of Creditors' decision to liquidate the corporate debtor, M/s. Santosh Overseas Limited, due to the absence of an acceptable resolution plan. The Tribunal appointed Mr. Rohit Sehgal as the Liquidator and issued directives for the liquidation process in line with the Insolvency and Bankruptcy Code, 2016. The CoC's commercial decision for liquidation was deemed valid, emphasizing the CoC's authority in making such decisions, which are not typically subject to judicial review unless there are statutory violations or breaches of natural justice principles. Case-Laws Insolvency and Bankruptcy Fri, 27 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392249