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TMI Blog2018 (7) TMI 2158X X X X Extracts X X X X X X X X Extracts X X X X ..... reditors . However, in absence of any viable Resolution Plan and due to paucity of time they recommended for liquidation of the Company. Viability or feasibility of Resolution Plan - HELD THAT:- The Adjudicating Authority or this Appellate Tribunal cannot sit in appeal over the decision of the Committee of Creditors . They are the experts to find out the viability and the feasibility of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2017. By the impugned order, the Adjudicating Authority passed order under Section 33 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as I B Code ) for liquidation of the Company in absence of any viable Resolution Plan . 2. There is a delay of five days in preferring the appeal. Taking into consideration the grounds taken, we condone the delay. 3. Learned counsel appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aking was given by the Resolution Applicant (Appellant) that he will invest a sum of ₹ 7 crores for purchase of the company seed processing facility on sale and lease back to the company. 6. The same very impugned order dated 21st March, 2018 was challenged by the Shareholders in another appeal on the ground that the Committee of Creditors has wrongly held that there is no Resolution ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r liquidation of the Company. 7. So far as viability or feasibility of Resolution Plan is concerned, the Adjudicating Authority or this Appellate Tribunal cannot sit in appeal over the decision of the Committee of Creditors . They are the experts to find out the viability and the feasibility of a plan and the matrix. As the aforesaid factors are technical in nature which can be determined by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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