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Appellants can’t question commercial wisdom of CoC in rejecting settlement proposal agreed by requisite majority

September 5, 2020[2020] 118 taxmann.com 489 (NCL-AT)
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IBC : Commercial wisdom of Committee of Creditors (CoCs) in approving or rejecting a resolution plan is essentially based on a business decision which involves evaluation of a resolution plan based on its feasibility and is non-justiciable, hence commercial wisdom of CoCs in rejecting settlement proposal emanating from appellants, with requisite majority and instead approving resolution plan of a resolution applicant, could not have been challenged by appellants

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