https://www.taxtmi.com/caselaws?id=410975 The Supreme Court upheld the approval of a resolution plan by the Committee of Creditors (CoC) in accordance with the Insolvency and Bankruptcy Code. It emphasized that the Adjudicating Authority's jurisdiction is limited to ensuring compliance with statutory requirements and that commercial decisions of the CoC are not subject to judicial review. The Court clarified the fair treatment of operational creditors and addressed the impact of excluding certain financial creditors from the CoC. The valuation of preference shares and liquidation value was also discussed. Ultimately, the Court dismissed the appeal, affirming the decisions of the lower authorities. en-us Tue, 10 Aug 2021 00:00:00 +0530 Wed, 09 Mar 2022 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410975 The Supreme Court upheld the approval of a resolution plan by the Committee of Creditors (CoC) in accordance with the Insolvency and Bankruptcy Code. It emphasized that the Adjudicating Authority's jurisdiction is limited to ensuring compliance with statutory requirements and that commercial decisions of the CoC are not subject to judicial review. The Court clarified the fair treatment of operational creditors and addressed the impact of excluding certain financial creditors from the CoC. The valuation of preference shares and liquidation value was also discussed. Ultimately, the Court dismissed the appeal, affirming the decisions of the lower authorities. Case-Laws Insolvency and Bankruptcy Tue, 10 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410975