https://www.taxtmi.com/caselaws?id=771651 The NCLAT Principal Bench set aside the NCLT's rejection of a resolution plan approved by the Committee of Creditors (CoC) with 91% vote share, where homebuyers constituted the majority. The court held that without violation of Section 30(2), the Adjudicating Authority cannot reject a resolution plan approved by CoC in its commercial wisdom. The NCLT's objections regarding valuation were deemed invalid as no stakeholder raised concerns about the valuation process, and the Successful Resolution Applicant had filed compliance affidavits addressing statutory liabilities. The appeal was allowed, emphasizing that resolution plans meeting Section 30(2) requirements and approved by requisite majority must be approved. en-us Tue, 20 May 2025 00:00:00 +0530 Wed, 21 May 2025 12:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771651 The NCLAT Principal Bench set aside the NCLT's rejection of a resolution plan approved by the Committee of Creditors (CoC) with 91% vote share, where homebuyers constituted the majority. The court held that without violation of Section 30(2), the Adjudicating Authority cannot reject a resolution plan approved by CoC in its commercial wisdom. The NCLT's objections regarding valuation were deemed invalid as no stakeholder raised concerns about the valuation process, and the Successful Resolution Applicant had filed compliance affidavits addressing statutory liabilities. The appeal was allowed, emphasizing that resolution plans meeting Section 30(2) requirements and approved by requisite majority must be approved. Case-Laws IBC Tue, 20 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771651