https://www.taxtmi.com/caselaws?id=432803 The Tribunal upheld the Adjudicating Authority's order for the liquidation of the Corporate Debtor, emphasizing the finality of the Committee of Creditors' decision based on commercial wisdom. The Tribunal dismissed the appeal, stating that the Appellant, despite being a promoter and shareholder, lacked standing to intervene in the liquidation process. The Tribunal highlighted that the CoC's decision to liquidate, following the rejection of resolution plans, was not subject to judicial review. The application for stay was closed, affirming the CoC's authority in the liquidation proceedings. en-us Wed, 11 Jan 2023 00:00:00 +0530 Fri, 13 Jan 2023 21:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432803 The Tribunal upheld the Adjudicating Authority's order for the liquidation of the Corporate Debtor, emphasizing the finality of the Committee of Creditors' decision based on commercial wisdom. The Tribunal dismissed the appeal, stating that the Appellant, despite being a promoter and shareholder, lacked standing to intervene in the liquidation process. The Tribunal highlighted that the CoC's decision to liquidate, following the rejection of resolution plans, was not subject to judicial review. The application for stay was closed, affirming the CoC's authority in the liquidation proceedings. Case-Laws Insolvency and Bankruptcy Wed, 11 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432803