https://www.taxtmi.com/caselaws?id=425637 The National Company Law Appellate Tribunal (NCLAT) upheld the Adjudicating Authority's decision to reject the appellant's resolution plan and proceed with liquidation. The Tribunal emphasized the CoC's commercial wisdom, adherence to statutory timelines, and the multiple opportunities given to the appellant for plan revisions. The decision aligns with Supreme Court precedents emphasizing timely resolution and the CoC's decision-making authority. The appeal was dismissed, affirming the justification for liquidation based on circumstances and elapsed time. en-us Wed, 27 Jul 2022 00:00:00 +0530 Thu, 28 Jul 2022 09:11:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425637 The National Company Law Appellate Tribunal (NCLAT) upheld the Adjudicating Authority's decision to reject the appellant's resolution plan and proceed with liquidation. The Tribunal emphasized the CoC's commercial wisdom, adherence to statutory timelines, and the multiple opportunities given to the appellant for plan revisions. The decision aligns with Supreme Court precedents emphasizing timely resolution and the CoC's decision-making authority. The appeal was dismissed, affirming the justification for liquidation based on circumstances and elapsed time. Case-Laws Insolvency and Bankruptcy Wed, 27 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425637