https://www.taxtmi.com/caselaws?id=776226 The SC upheld the authority of the CoC during CIRP under Section 14(1)(d) of the IBC, emphasizing that the CoC's commercial wisdom must be respected. The CoC and RP decided that retaining possession of certain property was financially detrimental and resolved to return it to the owner. The SC set aside the NCLAT order that reversed the NCLT's decision allowing return of the property and restored the NCLT order permitting possession to be handed back. The RP was directed to implement the order without delay. The appeal was allowed. en-us Tue, 05 Aug 2025 00:00:00 +0530 Thu, 07 Aug 2025 07:03:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776226 The SC upheld the authority of the CoC during CIRP under Section 14(1)(d) of the IBC, emphasizing that the CoC's commercial wisdom must be respected. The CoC and RP decided that retaining possession of certain property was financially detrimental and resolved to return it to the owner. The SC set aside the NCLAT order that reversed the NCLT's decision allowing return of the property and restored the NCLT order permitting possession to be handed back. The RP was directed to implement the order without delay. The appeal was allowed. Case-Laws IBC Tue, 05 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776226