https://www.taxtmi.com/caselaws?id=299913 The Adjudicating Authority upheld the Committee of Creditors' approval of the resolution plan submitted by M/s Jagannath Financial Advisory Private Limited in a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Despite objections from Canara Bank regarding the distribution of resolution funds, the Authority deemed the CoC's decisions as within their commercial wisdom and not subject to review. The resolution plan was found to comply with Section 30(2) of the Code, meeting all legal requirements and IBBI guidelines. Canara Bank's objections were rejected, and the approved plan was deemed legally sound and compliant. en-us Tue, 20 Aug 2019 00:00:00 +0530 Wed, 05 Jan 2022 05:54:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299913 The Adjudicating Authority upheld the Committee of Creditors' approval of the resolution plan submitted by M/s Jagannath Financial Advisory Private Limited in a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Despite objections from Canara Bank regarding the distribution of resolution funds, the Authority deemed the CoC's decisions as within their commercial wisdom and not subject to review. The resolution plan was found to comply with Section 30(2) of the Code, meeting all legal requirements and IBBI guidelines. Canara Bank's objections were rejected, and the approved plan was deemed legally sound and compliant. Case-Laws Insolvency and Bankruptcy Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299913