https://www.taxtmi.com/caselaws?id=764292 SC held that HC of Karnataka erred in exercising judicial review to interdict Corporate Insolvency Process after Committee of Creditors accepted resolution plan. Court emphasized that CIRP proceedings commenced six years ago with resolution plan approved four years back, highlighting importance of concluding proceedings expeditiously. HC should not have entertained writ petition due to delay and laches, particularly when respondent initiated proceedings under IBC seeking similar relief. IBC constitutes complete code with sufficient checks, balances, and appellate remedies. Unjustified interference with IBC proceedings breaches legal discipline. Appeal allowed, emphasizing judicial review powers require rigorous scrutiny and judicious application. en-us Fri, 03 Jan 2025 00:00:00 +0530 Sat, 04 Jan 2025 10:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764292 SC held that HC of Karnataka erred in exercising judicial review to interdict Corporate Insolvency Process after Committee of Creditors accepted resolution plan. Court emphasized that CIRP proceedings commenced six years ago with resolution plan approved four years back, highlighting importance of concluding proceedings expeditiously. HC should not have entertained writ petition due to delay and laches, particularly when respondent initiated proceedings under IBC seeking similar relief. IBC constitutes complete code with sufficient checks, balances, and appellate remedies. Unjustified interference with IBC proceedings breaches legal discipline. Appeal allowed, emphasizing judicial review powers require rigorous scrutiny and judicious application. Case-Laws IBC Fri, 03 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764292