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of <h1>Supreme Court Limits NCLT and NCLAT Power in Insolvency Cases, Upholds Committee of Creditors' Decision-Making Authority.</h1> The Supreme Court of India clarified the jurisdictional boundaries of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) within the Insolvency and Bankruptcy Code (IBC). The case involved a resolution plan for a company's insolvency, where the NCLT and NCLAT ordered asset revaluation, raising questions about their authority to interfere with the Committee of Creditors' (CoC) decisions. The Supreme Court emphasized the CoC's commercial wisdom should not be subject to judicial review unless objections are raised. The Court set aside the tribunals' orders, underscoring the CoC's autonomy and limiting judicial intervention.
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