https://www.taxtmi.com/caselaws?id=790372 The Adjudicating Authority under the Insolvency and Bankruptcy Code is generally confined to checking statutory compliance and process integrity, while the Committee of Creditors' commercial wisdom on feasibility, viability and valuation remains largely non-justiciable. That restraint, however, does not prevent scrutiny where tangible material shows an opaque or materially irregular resolution process. Here, incomplete disclosure, unexplained asset and liability changes, lack of audit or avoidance action, and deficiencies in the Information Memorandum were treated as undermining the reliability of the process. On that basis, rejection of the resolution plan and liquidation of the corporate debtor were sustained. en-us Tue, 21 Apr 2026 00:00:00 +0530 Fri, 24 Apr 2026 08:52:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790372 The Adjudicating Authority under the Insolvency and Bankruptcy Code is generally confined to checking statutory compliance and process integrity, while the Committee of Creditors' commercial wisdom on feasibility, viability and valuation remains largely non-justiciable. That restraint, however, does not prevent scrutiny where tangible material shows an opaque or materially irregular resolution process. Here, incomplete disclosure, unexplained asset and liability changes, lack of audit or avoidance action, and deficiencies in the Information Memorandum were treated as undermining the reliability of the process. On that basis, rejection of the resolution plan and liquidation of the corporate debtor were sustained. Case-Laws IBC Tue, 21 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790372