https://www.taxtmi.com/caselaws?id=764019 NCLAT dismissed appeal by dissenting financial creditor challenging CoC's decision to deduct Rs.34 crores from their payout under approved Resolution Plan. The CoC approved the plan with 70.07% vote share while appellant held 6.64% and voted against. Tribunal held that commercial wisdom of CoC in approving distribution manner is binding on all stakeholders including dissenting creditors, citing Supreme Court precedents. The appellant could not challenge CoC's decision taken in 31st meeting regarding deduction from their payout as dissenting financial creditors are bound by majority decisions under the Resolution Plan. en-us Wed, 18 Dec 2024 00:00:00 +0530 Wed, 01 Jan 2025 19:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764019 NCLAT dismissed appeal by dissenting financial creditor challenging CoC's decision to deduct Rs.34 crores from their payout under approved Resolution Plan. The CoC approved the plan with 70.07% vote share while appellant held 6.64% and voted against. Tribunal held that commercial wisdom of CoC in approving distribution manner is binding on all stakeholders including dissenting creditors, citing Supreme Court precedents. The appellant could not challenge CoC's decision taken in 31st meeting regarding deduction from their payout as dissenting financial creditors are bound by majority decisions under the Resolution Plan. Case-Laws IBC Wed, 18 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764019