https://www.taxtmi.com/caselaws?id=404789 The Tribunal found that the Corporate Debtor was not a going concern and was non-operational, leading to the approval of liquidation by the Committee of Creditors (CoC). The Tribunal held that the Adjudicating Authority was not justified in directing the CoC to raise interim funds as it contravened the Insolvency and Bankruptcy Code. The Tribunal set aside the Authority's directions, emphasizing that CoC's commercial decisions are non-justiciable. The appeal was allowed with no costs ordered. en-us Tue, 02 Mar 2021 00:00:00 +0530 Thu, 04 Mar 2021 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404789 The Tribunal found that the Corporate Debtor was not a going concern and was non-operational, leading to the approval of liquidation by the Committee of Creditors (CoC). The Tribunal held that the Adjudicating Authority was not justified in directing the CoC to raise interim funds as it contravened the Insolvency and Bankruptcy Code. The Tribunal set aside the Authority's directions, emphasizing that CoC's commercial decisions are non-justiciable. The appeal was allowed with no costs ordered. Case-Laws Insolvency and Bankruptcy Tue, 02 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404789