https://www.taxtmi.com/caselaws?id=439677 The Tribunal upheld the Committee of Creditors' decision to conduct the Challenge Process and approve the revised Resolution Plan, finding no violation of Regulation 39(1A) or other provisions of the Code. The CoC's actions were deemed within their commercial wisdom and supported by the Request for Resolution Plan clauses, resulting in increased bids and value maximization. The appeal challenging the Impugned Order was dismissed, affirming the decision to proceed with the Challenge Process and accept the revised Resolution Plan. en-us Tue, 27 Jun 2023 00:00:00 +0530 Fri, 30 Jun 2023 09:34:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439677 The Tribunal upheld the Committee of Creditors' decision to conduct the Challenge Process and approve the revised Resolution Plan, finding no violation of Regulation 39(1A) or other provisions of the Code. The CoC's actions were deemed within their commercial wisdom and supported by the Request for Resolution Plan clauses, resulting in increased bids and value maximization. The appeal challenging the Impugned Order was dismissed, affirming the decision to proceed with the Challenge Process and accept the revised Resolution Plan. Case-Laws Insolvency and Bankruptcy Tue, 27 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439677