https://www.taxtmi.com/caselaws?id=449623 NCLAT dismissed the appeal challenging rejection of appellant's resolution plan. The CoC properly considered appellant's plan after he submitted Rs.1 crore EMD following 30.09.2022 order. Minutes of 8th and 9th CoC meetings showed thorough deliberation of all plan aspects including proposed sale of factory with bank charge. Appellant's plan failed to secure requisite votes. NCLAT held CoC's commercial wisdom in approving resolution plans is not subject to judicial review except for statutory violations under Section 30(2). Swiss Challenge Method adoption is discretionary and not mandatory. No infirmity found in adjudicating authority's approval of successful resolution plan. en-us Wed, 14 Feb 2024 00:00:00 +0530 Fri, 16 Feb 2024 07:29:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449623 NCLAT dismissed the appeal challenging rejection of appellant's resolution plan. The CoC properly considered appellant's plan after he submitted Rs.1 crore EMD following 30.09.2022 order. Minutes of 8th and 9th CoC meetings showed thorough deliberation of all plan aspects including proposed sale of factory with bank charge. Appellant's plan failed to secure requisite votes. NCLAT held CoC's commercial wisdom in approving resolution plans is not subject to judicial review except for statutory violations under Section 30(2). Swiss Challenge Method adoption is discretionary and not mandatory. No infirmity found in adjudicating authority's approval of successful resolution plan. Case-Laws Insolvency and Bankruptcy Wed, 14 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449623