https://www.taxtmi.com/caselaws?id=463046 The NCLT Mumbai approved the Resolution Plan submitted by the Resolution Applicant, finding it compliant with section 30(2) of the IBC and relevant regulations. The plan was not in contravention of section 29A and met all mandatory requirements. Following the SC precedent in K Sashidhar, the tribunal emphasized that the Adjudicating Authority's role is limited to verifying compliance with statutory criteria and must respect the commercial wisdom of the CoC. Since the plan satisfied all legal requirements, the tribunal allowed the application and approved the Resolution Plan. en-us Fri, 09 Aug 2024 00:00:00 +0530 Sat, 02 Aug 2025 16:00:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463046 The NCLT Mumbai approved the Resolution Plan submitted by the Resolution Applicant, finding it compliant with section 30(2) of the IBC and relevant regulations. The plan was not in contravention of section 29A and met all mandatory requirements. Following the SC precedent in K Sashidhar, the tribunal emphasized that the Adjudicating Authority's role is limited to verifying compliance with statutory criteria and must respect the commercial wisdom of the CoC. Since the plan satisfied all legal requirements, the tribunal allowed the application and approved the Resolution Plan. Case-Laws IBC Fri, 09 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463046