https://www.taxtmi.com/caselaws?id=427807 The tribunal upheld the Committee of Creditors' decision to distribute proceeds based on voting shares, finding it compliant with Section 30(2)(b) of the Insolvency and Bankruptcy Code. The appellant's claim for distribution based on the value of its security interest was dismissed, emphasizing that judicial review is limited to ensuring statutory compliance and cannot question the commercial wisdom of the CoC. The appeal was deemed unsubstantial, and the tribunal rejected the appellant's application. en-us Fri, 16 Sep 2022 00:00:00 +0530 Sat, 17 Sep 2022 07:57:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427807 The tribunal upheld the Committee of Creditors' decision to distribute proceeds based on voting shares, finding it compliant with Section 30(2)(b) of the Insolvency and Bankruptcy Code. The appellant's claim for distribution based on the value of its security interest was dismissed, emphasizing that judicial review is limited to ensuring statutory compliance and cannot question the commercial wisdom of the CoC. The appeal was deemed unsubstantial, and the tribunal rejected the appellant's application. Case-Laws Insolvency and Bankruptcy Fri, 16 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427807