https://www.taxtmi.com/caselaws?id=409593 The Adjudicating Authority upheld the Committee of Creditors' decision to approve the Resolution Plan, including provisions for recoveries from Fraudulent Transactions. Despite arguments for reconsideration, the Authority respected the CoC's commercial judgment, citing legal precedents discouraging interference with CoC decisions. The judgment emphasized the CoC's thorough evaluation and safeguarding of their interests, ultimately dismissing the challenge to the Resolution Plan approval. The Authority highlighted the CoC's authority in determining the treatment of recoveries from avoidance applications, acknowledging their commercial wisdom and limited jurisdiction to interfere with their decisions. en-us Mon, 07 Jun 2021 00:00:00 +0530 Tue, 13 Jul 2021 10:35:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409593 The Adjudicating Authority upheld the Committee of Creditors' decision to approve the Resolution Plan, including provisions for recoveries from Fraudulent Transactions. Despite arguments for reconsideration, the Authority respected the CoC's commercial judgment, citing legal precedents discouraging interference with CoC decisions. The judgment emphasized the CoC's thorough evaluation and safeguarding of their interests, ultimately dismissing the challenge to the Resolution Plan approval. The Authority highlighted the CoC's authority in determining the treatment of recoveries from avoidance applications, acknowledging their commercial wisdom and limited jurisdiction to interfere with their decisions. Case-Laws Insolvency and Bankruptcy Mon, 07 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409593