https://www.taxtmi.com/caselaws?id=414693 The Appellate Tribunal dismissed the appeal challenging the liquidation order, upholding the decision of the Committee of Creditors (CoC) to proceed with liquidation over the Appellant's settlement plan. The Tribunal emphasized the timely completion of the Corporate Insolvency Resolution Process (CIRP) and the commercial wisdom of the CoC, stating that judicial intervention should only occur in the presence of a legal flaw in the CoC's decision. The judgment affirmed the legality and fairness of the liquidation order, highlighting the limited scope for judicial interference in CoC's decisions under the Insolvency and Bankruptcy Code (IBC). en-us Wed, 10 Nov 2021 00:00:00 +0530 Thu, 11 Nov 2021 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414693 The Appellate Tribunal dismissed the appeal challenging the liquidation order, upholding the decision of the Committee of Creditors (CoC) to proceed with liquidation over the Appellant's settlement plan. The Tribunal emphasized the timely completion of the Corporate Insolvency Resolution Process (CIRP) and the commercial wisdom of the CoC, stating that judicial intervention should only occur in the presence of a legal flaw in the CoC's decision. The judgment affirmed the legality and fairness of the liquidation order, highlighting the limited scope for judicial interference in CoC's decisions under the Insolvency and Bankruptcy Code (IBC). Case-Laws Insolvency and Bankruptcy Wed, 10 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414693