Commercial wisdom of CoC must be given primacy during CIRP: Supreme Court

Sincere Securities Private Limited & Ors. Vs Chandrakant Khemka & Ors. (Supreme Court of India) Supreme Court held that the commercial wisdom of the CoC must, accordingly, be given primacy during the CIRP. Once CoC decides that retention of the possession of the subject property was not in the interest of the CIRP, that decision must be given the respect that is lawfully due to it. Facts- This appeal, under Section 62 of the Insolvency and Bankruptcy Code, 2016 calls in question the order dated 12.11.2024 passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi...