https://www.taxtmi.com/caselaws?id=759865 NCLAT dismissed appeal challenging resolution plan approval. The plan was approved by Committee of Creditors with 97.54% vote share. Tribunal held that commercial wisdom of CoC in approving resolution plans cannot be lightly interfered with. Adjudicating Authority's jurisdiction to interfere with approved resolution plans is limited to Section 30(2) IBC requirements. Since the resolution plan met Section 30(2) requirements and was properly approved by CoC, no grounds existed to interfere with the adjudicating authority's approval order. en-us Thu, 29 Aug 2024 00:00:00 +0530 Thu, 10 Oct 2024 08:27:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759865 NCLAT dismissed appeal challenging resolution plan approval. The plan was approved by Committee of Creditors with 97.54% vote share. Tribunal held that commercial wisdom of CoC in approving resolution plans cannot be lightly interfered with. Adjudicating Authority's jurisdiction to interfere with approved resolution plans is limited to Section 30(2) IBC requirements. Since the resolution plan met Section 30(2) requirements and was properly approved by CoC, no grounds existed to interfere with the adjudicating authority's approval order. Case-Laws IBC Thu, 29 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759865