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Committee Of Creditors Of Earthcon ... vs Nisus Finance & Investment Managers Llp on 21 July, 2025
cites
K. Sashidhar vs Indian Overseas Bank on 5 February, 2019
42. The "parties opposing Resolution Plan" contended that the CoC's approval
does not immunize the resolution plan from scrutiny, as the SRA's ineligibility
renders the plan inadmissible and reliance on K. Sashidhar v. Indian Overseas
Bank (Supra) is misconstrued, as commercial wisdom does not extend to
approving plans by ineligible applicants.
Section 39 in U.P. Urban Planning and Development Act, 1973 [Entire Act]
Section 15 in U.P. Urban Planning and Development Act, 1973 [Entire Act]
Section 30 in U.P. Urban Planning and Development Act, 1973 [Entire Act]
U.P. Urban Planning and Development Act, 1973
The Companies Act, 2013
Jaypee Kensington Boulevard ... vs Nbcc (India) Ltd on 24 March, 2021
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.
Section 138 in The Negotiable Instruments Act, 1881 [Entire Act]
Sp Coal Resources Pvt Ltd vs Indus Fila Limited on 23 January, 2023
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.