https://www.taxtmi.com/caselaws?id=761030 NCLAT dismissed an appeal challenging approval of a resolution plan. The tribunal held that since the entire admitted claim for provident fund and gratuity was paid in full under the resolution plan, there were no grounds to interfere with NCLT's approval. NCLAT emphasized its limited jurisdiction in reviewing plans approved by Committee of Creditors, restricted to examining compliance with Section 30(2) of IBC. Citing SC precedent, the tribunal noted that commercial wisdom of creditors' collective business decisions is non-justiciable. Finding full compliance with IBC provisions and no error by the adjudicating authority, the appeal was dismissed. en-us Tue, 29 Oct 2024 00:00:00 +0530 Tue, 29 Oct 2024 17:20:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761030 NCLAT dismissed an appeal challenging approval of a resolution plan. The tribunal held that since the entire admitted claim for provident fund and gratuity was paid in full under the resolution plan, there were no grounds to interfere with NCLT's approval. NCLAT emphasized its limited jurisdiction in reviewing plans approved by Committee of Creditors, restricted to examining compliance with Section 30(2) of IBC. Citing SC precedent, the tribunal noted that commercial wisdom of creditors' collective business decisions is non-justiciable. Finding full compliance with IBC provisions and no error by the adjudicating authority, the appeal was dismissed. Case-Laws IBC Tue, 29 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761030