https://www.taxtmi.com/caselaws?id=450107 NCLAT dismissed appeal challenging CoC's rejection of settlement proposal under Section 12A. Court held that CoC's decision was a business judgment within their commercial wisdom domain. Minutes showed proper consideration and deliberation by CoC with documented reasons for rejection. NCLAT found no arbitrariness in CoC's decision-making process. Jurisdictional review limited to determining if decision was arbitrary, which was not established. Adjudicating Authority's order rejecting application contained no errors. Appeal dismissed as CoC adequately considered appellant's proposal before unanimous rejection. en-us Mon, 26 Feb 2024 00:00:00 +0530 Tue, 27 Feb 2024 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450107 NCLAT dismissed appeal challenging CoC's rejection of settlement proposal under Section 12A. Court held that CoC's decision was a business judgment within their commercial wisdom domain. Minutes showed proper consideration and deliberation by CoC with documented reasons for rejection. NCLAT found no arbitrariness in CoC's decision-making process. Jurisdictional review limited to determining if decision was arbitrary, which was not established. Adjudicating Authority's order rejecting application contained no errors. Appeal dismissed as CoC adequately considered appellant's proposal before unanimous rejection. Case-Laws Insolvency and Bankruptcy Mon, 26 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450107