https://www.taxtmi.com/caselaws?id=772155 NCLAT Principal Bench rejected appellant's challenge to resolution plan approval. CoC allocated nil amount to appellant in approved resolution plan. Appellant claimed violation of waterfall mechanism under Section 53 of IBC. NCLAT held resolution plans cannot be approved unless minimum payment made to operational creditors and dissenting financial creditors per liquidation value under Section 53. However, CoC has exclusive jurisdiction over resolution plan terms through commercial wisdom. Adjudicating authority lacks equity-based jurisdiction and can only verify statutory compliance under Section 30(2). NCLAT cannot review CoC's commercial decisions on equitable grounds. Appeal dismissed as devoid of merit. en-us Wed, 14 May 2025 00:00:00 +0530 Thu, 05 Jun 2025 08:25:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772155 NCLAT Principal Bench rejected appellant's challenge to resolution plan approval. CoC allocated nil amount to appellant in approved resolution plan. Appellant claimed violation of waterfall mechanism under Section 53 of IBC. NCLAT held resolution plans cannot be approved unless minimum payment made to operational creditors and dissenting financial creditors per liquidation value under Section 53. However, CoC has exclusive jurisdiction over resolution plan terms through commercial wisdom. Adjudicating authority lacks equity-based jurisdiction and can only verify statutory compliance under Section 30(2). NCLAT cannot review CoC's commercial decisions on equitable grounds. Appeal dismissed as devoid of merit. Case-Laws IBC Wed, 14 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772155