https://www.taxtmi.com/caselaws?id=444527 The Tribunal dismissed the appeal, affirming the Committee of Creditors' (CoC) decision to approve the Resolution Plan for M/s. Meenakshi Energy Ltd. and its distribution mechanism. It held that the CoC acted within its commercial wisdom and jurisdiction under Section 30(2) of the Insolvency and Bankruptcy Code (IBC). The Tribunal emphasized that the CoC's decisions on distribution mechanisms are not subject to judicial review unless they violate statutory provisions, and found that the CoC's actions were compliant with the IBC and related regulations. en-us Mon, 16 Oct 2023 00:00:00 +0530 Tue, 17 Oct 2023 15:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444527 The Tribunal dismissed the appeal, affirming the Committee of Creditors' (CoC) decision to approve the Resolution Plan for M/s. Meenakshi Energy Ltd. and its distribution mechanism. It held that the CoC acted within its commercial wisdom and jurisdiction under Section 30(2) of the Insolvency and Bankruptcy Code (IBC). The Tribunal emphasized that the CoC's decisions on distribution mechanisms are not subject to judicial review unless they violate statutory provisions, and found that the CoC's actions were compliant with the IBC and related regulations. Case-Laws Insolvency and Bankruptcy Mon, 16 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444527