https://www.taxtmi.com/caselaws?id=398481 The appeal challenging the Resolution Plan's approval was dismissed by the tribunal. The plan, valued at Rs. 143 Crores for assets worth Rs. 490 Crores, was approved by the Committee of Creditors based on commercial wisdom. The CoC's decision was deemed non-justiciable, compliant with statutory requirements, and providing for all stakeholders. The tribunal found the appeal lacked merit, failed to establish irregularities, and criticized the ex-management's non-cooperation during the Corporate Insolvency Resolution Process. The tribunal upheld the plan's approval and highlighted the CoC's paramount role in such matters. en-us Mon, 14 Sep 2020 00:00:00 +0530 Thu, 17 Sep 2020 15:00:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398481 The appeal challenging the Resolution Plan's approval was dismissed by the tribunal. The plan, valued at Rs. 143 Crores for assets worth Rs. 490 Crores, was approved by the Committee of Creditors based on commercial wisdom. The CoC's decision was deemed non-justiciable, compliant with statutory requirements, and providing for all stakeholders. The tribunal found the appeal lacked merit, failed to establish irregularities, and criticized the ex-management's non-cooperation during the Corporate Insolvency Resolution Process. The tribunal upheld the plan's approval and highlighted the CoC's paramount role in such matters. Case-Laws Insolvency and Bankruptcy Mon, 14 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398481