https://www.taxtmi.com/caselaws?id=403385 The Tribunal dismissed the Application, emphasizing the paramount status of the CoC's commercial wisdom and rejecting the allegations of bias and favoritism. The Applicant's requests to declare R7 ineligible, consider their Rs. 27 Crores plan, and stay the finalization process were all denied. The Tribunal highlighted the objective of maximizing value under the IBC and referenced legal precedents supporting the CoC's decision-making authority. No costs were awarded in the matter. en-us Tue, 04 Aug 2020 00:00:00 +0530 Thu, 28 Jan 2021 10:50:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403385 The Tribunal dismissed the Application, emphasizing the paramount status of the CoC's commercial wisdom and rejecting the allegations of bias and favoritism. The Applicant's requests to declare R7 ineligible, consider their Rs. 27 Crores plan, and stay the finalization process were all denied. The Tribunal highlighted the objective of maximizing value under the IBC and referenced legal precedents supporting the CoC's decision-making authority. No costs were awarded in the matter. Case-Laws Insolvency and Bankruptcy Tue, 04 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403385