https://www.taxtmi.com/caselaws?id=312088 The Appellate Tribunal dismissed the appeal, affirming the authority of the Committee of Creditors (COC) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, to decide on liquidation. The Tribunal found no merit in the Appellant's claim of not being heard, noting that the Corporate Debtor was adequately represented. The absence of an Expression of Interest (EoI) and a viable Resolution Plan justified the COC's decision for liquidation, which was not subject to judicial review. The Tribunal emphasized the COC's commercial wisdom in determining the Corporate Debtor's fate. en-us Mon, 01 Mar 2021 00:00:00 +0530 Wed, 31 Jan 2024 17:08:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312088 The Appellate Tribunal dismissed the appeal, affirming the authority of the Committee of Creditors (COC) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, to decide on liquidation. The Tribunal found no merit in the Appellant's claim of not being heard, noting that the Corporate Debtor was adequately represented. The absence of an Expression of Interest (EoI) and a viable Resolution Plan justified the COC's decision for liquidation, which was not subject to judicial review. The Tribunal emphasized the COC's commercial wisdom in determining the Corporate Debtor's fate. Case-Laws Insolvency and Bankruptcy Mon, 01 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312088