https://www.taxtmi.com/caselaws?id=766140 The NCLAT held that NCLT lacks power to modify resolution plans beyond verifying mandatory compliance and cannot examine commercial wisdom of Committee of Creditors (CoC) or direct distribution conditions. A resolution plan approved by 79.10% voting share was upheld, with modifications set aside. The tribunal ruled that dissenting financial creditors cannot challenge resolution plans approved by two-thirds CoC majority unless they receive less than Section 53(1) entitlements. The dissenting creditor's appeals were dismissed as lacking merit and filed as afterthought after participating in CoC meetings. en-us Fri, 07 Feb 2025 00:00:00 +0530 Mon, 17 Feb 2025 15:15:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766140 The NCLAT held that NCLT lacks power to modify resolution plans beyond verifying mandatory compliance and cannot examine commercial wisdom of Committee of Creditors (CoC) or direct distribution conditions. A resolution plan approved by 79.10% voting share was upheld, with modifications set aside. The tribunal ruled that dissenting financial creditors cannot challenge resolution plans approved by two-thirds CoC majority unless they receive less than Section 53(1) entitlements. The dissenting creditor's appeals were dismissed as lacking merit and filed as afterthought after participating in CoC meetings. Case-Laws IBC Fri, 07 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766140