Gaurav Katiyar vs Nisus Finance And Investment Managers ... on 21 July, 2025
15. The "parties supporting Resolution Plan" submitted that the CIRP is a
collective bargaining process, and the CoC, by a 70.18% majority, trusted the
SRA's credentials, feasibility, viability, and capability, approving the Resolution
Plan. The "parties supporting Resolution Plan" contended that this decision falls
squarely within the CoC's commercial wisdom, as held in K. Sashidhar v. Indian
Overseas Bank (2019) 102 taxmann.com 139 (SC), Jaypee Kensington
Boulevard Apartments Welfare Association v. NBCC (India) Ltd. (2021) 125
taxmann.com 360 (SC), and SP Coal Resources Pvt. Ltd. v. Indus FILA Ltd. (TA
(AT) No. 13 of 2021). The "parties supporting Resolution Plan" further submitted
that the assessment of asset maximization is a subjective matter for the CoC, and
the Adjudicating Authority's interference was impermissible.