The Supreme Court has said that the National Company Law Tribunal (NCLT) or the National Company Law Appellate Tribunal (NCLAT) cannot interfere with the “commercial wisdom” of the Committee of Creditors (CoC), except within the limited scope under Sections 30 and 31 of the Insolvency and Bankruptcy Code(IBC), Live Law reported.
A three-judge bench comprising Justices A.M. Khanwilkar, B.R. Gavai and Krishna Murari set aside an order of the NCLAT which had annulled the decision of CoC to accept a resolution plan (Kalparaj Dharamshi and another vs Kotak Investment Advisors Ltd and Others and connected cases).
Read More: https://www.bhaskarlive.in/nclt-nclat-cant-interfere-with-commercial-wisdom-of-coc/
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