https://www.taxtmi.com/caselaws?id=410333 The Tribunal upheld the Committee of Creditors' decision to reject the applicant's resolution plan and approve the plan of the third respondent. It found no irregularities in the COC's decision-making process, emphasizing that commercial wisdom is key, provided the approved plan meets IBC requirements. The Tribunal dismissed allegations of collusion, bias, and procedural violations, citing the applicant's active participation in COC meetings and opportunities to enhance its plan. en-us Fri, 16 Jul 2021 00:00:00 +0530 Thu, 29 Jul 2021 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410333 The Tribunal upheld the Committee of Creditors' decision to reject the applicant's resolution plan and approve the plan of the third respondent. It found no irregularities in the COC's decision-making process, emphasizing that commercial wisdom is key, provided the approved plan meets IBC requirements. The Tribunal dismissed allegations of collusion, bias, and procedural violations, citing the applicant's active participation in COC meetings and opportunities to enhance its plan. Case-Laws Insolvency and Bankruptcy Fri, 16 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410333