https://www.taxtmi.com/caselaws?id=300662 The Hon'ble Supreme Court upheld the commercial wisdom of the Committee of Creditors (COC) in a case involving the liquidation of a Corporate Debtor under the Insolvency and Bankruptcy Code, 2016. The Court affirmed that the COC's discretion in making payment decisions to creditors should not be interfered with by the Adjudicating Authority. Consequently, the Adjudicating Authority issued orders lifting the moratorium, appointing a Liquidator, and restricting legal proceedings against the Corporate Debtor without approval. The application was disposed of in accordance with these decisions. en-us Wed, 05 May 2021 00:00:00 +0530 Fri, 18 Feb 2022 07:31:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300662 The Hon'ble Supreme Court upheld the commercial wisdom of the Committee of Creditors (COC) in a case involving the liquidation of a Corporate Debtor under the Insolvency and Bankruptcy Code, 2016. The Court affirmed that the COC's discretion in making payment decisions to creditors should not be interfered with by the Adjudicating Authority. Consequently, the Adjudicating Authority issued orders lifting the moratorium, appointing a Liquidator, and restricting legal proceedings against the Corporate Debtor without approval. The application was disposed of in accordance with these decisions. Case-Laws Insolvency and Bankruptcy Wed, 05 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300662