https://www.taxtmi.com/caselaws?id=446014 NCLAT dismissed appeal challenging resolution plan approval. Appellant contested sole financial creditor's related party status and alleged undue influence, but failed to challenge CIRP admission order within statutory 30-day period. Tribunal found financial creditor Sunaina Singh resigned as director before Section 7 application filing, establishing non-related party status. CoC approved resolution plan with 100% voting share after due diligence. Appellant failed to establish grounds under Section 61(3) IBC for challenging approved resolution plan. Court held belated challenges to CIRP admission cannot be raised under pretext of contesting resolution plan approval, emphasizing limited judicial review scope over CoC's commercial wisdom. en-us Thu, 09 Nov 2023 00:00:00 +0530 Thu, 23 Nov 2023 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446014 NCLAT dismissed appeal challenging resolution plan approval. Appellant contested sole financial creditor's related party status and alleged undue influence, but failed to challenge CIRP admission order within statutory 30-day period. Tribunal found financial creditor Sunaina Singh resigned as director before Section 7 application filing, establishing non-related party status. CoC approved resolution plan with 100% voting share after due diligence. Appellant failed to establish grounds under Section 61(3) IBC for challenging approved resolution plan. Court held belated challenges to CIRP admission cannot be raised under pretext of contesting resolution plan approval, emphasizing limited judicial review scope over CoC's commercial wisdom. Case-Laws Insolvency and Bankruptcy Thu, 09 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446014