https://www.taxtmi.com/caselaws?id=293039 The NCLAT set aside the Tribunal's order dismissing the Resolution Professional's application for approval of the resolution plan under the IBC, directing the plan's approval with a modification for implementation within 12 years. The Supreme Court emphasized the limited jurisdiction of NCLT and NCLAT in reversing commercial decisions of dissenting financial creditors, highlighting that judicial review of approved resolution plans is confined to specified sections of the IBC. The Tribunal subsequently approved the resolution plan, considering the NCLAT's direction and Supreme Court's ruling, ensuring adherence to the legislative intent and voting thresholds for corporate debtor revival. en-us Wed, 27 Mar 2019 00:00:00 +0530 Wed, 20 Jan 2021 13:26:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293039 The NCLAT set aside the Tribunal's order dismissing the Resolution Professional's application for approval of the resolution plan under the IBC, directing the plan's approval with a modification for implementation within 12 years. The Supreme Court emphasized the limited jurisdiction of NCLT and NCLAT in reversing commercial decisions of dissenting financial creditors, highlighting that judicial review of approved resolution plans is confined to specified sections of the IBC. The Tribunal subsequently approved the resolution plan, considering the NCLAT's direction and Supreme Court's ruling, ensuring adherence to the legislative intent and voting thresholds for corporate debtor revival. Case-Laws Insolvency and Bankruptcy Wed, 27 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293039