https://www.taxtmi.com/caselaws?id=465338 The dominant issue was whether the resolution plan could be approved under s.30(6) read with s.31(1) of the IBC and reg.39(4) of the CIRP Regulations. The NCLT held that its scrutiny is confined to the limited judicial review permitted under s.30(2) read with s.31 and it cannot interfere with the commercial wisdom of the CoC. On examining the plan as filed and explained by the successful resolution applicant, the NCLT found that it satisfied the mandatory requirements of s.30(2) and disclosed no legal impediment to approval. The resolution plan was approved and made binding on the corporate debtor, its employees, shareholders, all creditors (including governmental authorities for statutory dues), and other stakeholders, and the application was allowed. en-us Tue, 11 Jun 2024 00:00:00 +0530 Wed, 17 Dec 2025 15:56:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465338 The dominant issue was whether the resolution plan could be approved under s.30(6) read with s.31(1) of the IBC and reg.39(4) of the CIRP Regulations. The NCLT held that its scrutiny is confined to the limited judicial review permitted under s.30(2) read with s.31 and it cannot interfere with the commercial wisdom of the CoC. On examining the plan as filed and explained by the successful resolution applicant, the NCLT found that it satisfied the mandatory requirements of s.30(2) and disclosed no legal impediment to approval. The resolution plan was approved and made binding on the corporate debtor, its employees, shareholders, all creditors (including governmental authorities for statutory dues), and other stakeholders, and the application was allowed. Case-Laws IBC Tue, 11 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465338