https://www.taxtmi.com/caselaws?id=450298 NCLAT dismissed appellant's challenge to resolution plan approval. The tribunal held that commercial wisdom of Committee of Creditors (CoC) in approving resolution plans cannot be judicially interfered with, except for Section 30(2) Code violations. CoC unanimously approved respondent's resolution plan with 100% vote share, which was subsequently approved by the Adjudicating Authority. Appellant had no inherent right to plan approval, as established by SC precedent. No grounds existed for interference with the January 4, 2024 approval order. en-us Thu, 29 Feb 2024 00:00:00 +0530 Sat, 02 Mar 2024 07:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450298 NCLAT dismissed appellant's challenge to resolution plan approval. The tribunal held that commercial wisdom of Committee of Creditors (CoC) in approving resolution plans cannot be judicially interfered with, except for Section 30(2) Code violations. CoC unanimously approved respondent's resolution plan with 100% vote share, which was subsequently approved by the Adjudicating Authority. Appellant had no inherent right to plan approval, as established by SC precedent. No grounds existed for interference with the January 4, 2024 approval order. Case-Laws Insolvency and Bankruptcy Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450298