https://www.taxtmi.com/caselaws?id=431028 Where the resolution process was extended and the committee of creditors considered revised and competing plans, neither plan obtained the statutory voting share required for approval. The adjudicating authority and the appellate tribunal were confined to checking compliance with the insolvency code and could not reappraise the merits of the committee of creditors' commercial decision or substitute their own view. The commercial wisdom of the committee of creditors remained non-justiciable, so the liquidation order was upheld and the challenge failed. en-us Wed, 19 Oct 2022 00:00:00 +0530 Mon, 05 Dec 2022 08:56:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431028 Where the resolution process was extended and the committee of creditors considered revised and competing plans, neither plan obtained the statutory voting share required for approval. The adjudicating authority and the appellate tribunal were confined to checking compliance with the insolvency code and could not reappraise the merits of the committee of creditors' commercial decision or substitute their own view. The commercial wisdom of the committee of creditors remained non-justiciable, so the liquidation order was upheld and the challenge failed. Case-Laws Insolvency and Bankruptcy Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431028