https://www.taxtmi.com/caselaws?id=762781 NCLAT dismissed appeal challenging approval of resolution plan. Tribunal held that Regulation 37(ba) regarding corporate restructuring through merger, amalgamation, or demerger applies only "as may be necessary" and is not mandatory for all resolution plans. Since appellant failed to demonstrate violation of Section 30(2) IBC, and citing SC precedent that commercial wisdom of Committee of Creditors requires no interference unless plan violates statutory provisions, NCLAT upheld the adjudicating authority's approval of the resolution plan. en-us Thu, 05 Dec 2024 00:00:00 +0530 Fri, 06 Dec 2024 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762781 NCLAT dismissed appeal challenging approval of resolution plan. Tribunal held that Regulation 37(ba) regarding corporate restructuring through merger, amalgamation, or demerger applies only "as may be necessary" and is not mandatory for all resolution plans. Since appellant failed to demonstrate violation of Section 30(2) IBC, and citing SC precedent that commercial wisdom of Committee of Creditors requires no interference unless plan violates statutory provisions, NCLAT upheld the adjudicating authority's approval of the resolution plan. Case-Laws IBC Thu, 05 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762781