Commercial Wisdom of CoC Prevails in approving resolution plans: SC

Kalpraj Dharamshi & Anr  Vs Kotak Investment Advisors Ltd & Anr (Supreme Court of India)

In a significant ruling concerning the Insolvency and Bankruptcy Code (IBC), the Supreme Court of India on March 10, 2021, reinforced the primacy of the commercial wisdom of the Committee of Creditors (CoC) in approving resolution plans. The judgment in the case of Kalpraj Dharamshi & Anr vs Kotak Investment Advisors Ltd & Anr (CIVIL APPEAL NOS.2943-2944 OF 2020) overturned a decision by the National Company Law Appellate Tri

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