https://www.taxtmi.com/caselaws?id=409448 The National Company Law Appellate Tribunal dismissed the appeal filed by an Ex-Director of a Corporate Debtor seeking direction for the consideration of OTS proposals under Section 230 of the Companies Act. The Tribunal upheld the Commercial Committee of Creditors' decision to reject the proposals, emphasizing that judicial review cannot interfere with the commercial decisions of the CoC. The request for the replacement of the Liquidator was deemed unsubstantiated as it was not raised earlier. The appeal was dismissed without costs, affirming the CoC's authority in such matters. en-us Mon, 05 Jul 2021 00:00:00 +0530 Thu, 18 Nov 2021 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409448 The National Company Law Appellate Tribunal dismissed the appeal filed by an Ex-Director of a Corporate Debtor seeking direction for the consideration of OTS proposals under Section 230 of the Companies Act. The Tribunal upheld the Commercial Committee of Creditors' decision to reject the proposals, emphasizing that judicial review cannot interfere with the commercial decisions of the CoC. The request for the replacement of the Liquidator was deemed unsubstantiated as it was not raised earlier. The appeal was dismissed without costs, affirming the CoC's authority in such matters. Case-Laws Insolvency and Bankruptcy Mon, 05 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409448