https://www.taxtmi.com/highlights?id=75242 Prayer for direction for placing the Settlement Proposal submitted by the Appellant before the CoC for consideration - CoC unanimously decided to reject the proposal -The Adjudicating Authority's role is to ensure that the CoC's decision is not arbitrary. Upon review, it found that the CoC had adequately considered the proposal and made a reasoned decision. Therefore, the Adjudicating Authority upheld the rejection of the Appellant's application. - The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal, finding no error in the Adjudicating Authority's decision to reject the Appellant's application. en-us Wed, 28 Feb 2024 08:35:14 +0530 Wed, 28 Feb 2024 08:35:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75242 Prayer for direction for placing the Settlement Proposal submitted by the Appellant before the CoC for consideration - CoC unanimously decided to reject the proposal -The Adjudicating Authority's role is to ensure that the CoC's decision is not arbitrary. Upon review, it found that the CoC had adequately considered the proposal and made a reasoned decision. Therefore, the Adjudicating Authority upheld the rejection of the Appellant's application. - The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal, finding no error in the Adjudicating Authority's decision to reject the Appellant's application. Highlights Insolvency and Bankruptcy Wed, 28 Feb 2024 08:35:14 +0530 https://www.taxtmi.com/highlights?id=75242