Court Upholds CoC's Decision: No Grounds to Challenge Approval of SPTL's Plan; Process Deemed Fair and Proper.

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....Reconsideration of Resolution Plan - The Appellant cannot question the commercial wisdom of the CoC in rejecting the Resolution Plan, with the requisite majority and in approving the Resolution Plan of SPTL. No material irregularity in Corporate Insolvency Resolution Process before the R.P. has been demonstrated - the impugned order has been passed on proper Application of mind. - AT....