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TMI Blog2021 (7) TMI 435X X X X Extracts X X X X X X X X Extracts X X X X ..... nancial Creditors and deliberations they have protected their interest and ascribed the value based on their Commercial Wisdom and Adjudicating Authority has limited jurisdiction to interfere with the same - The CoC by exercising its Commercial Wisdom have accepted, approved the resolution plan including the monies to be recovered if any from the Fraudulent Transactions - thus, Adjudicating Authority are reluctant to substitute our wisdom at this stage as against their Commercial Wisdom of the CoC. The Adjudicating Authority is of the confirmed view that CoC has already taken a conscious decision comprising of 77 members, therefore we restrain from making any comments and sending the plan back to CoC as pleaded by the applicant - Applica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , including appeal proceedings arising therefrom, shall be for the sole benefit of the creditors of DHFL b. In the event this Hon'ble Tribunal is inclined to approve the resolution plan of Respondent No. 2 with the modification that the recoveries/contributions made or the benefit of any orders passed in the avoidance applications filed or to be filed by Respondent No. 1 under sections 43 to 51 or under section 66 of the Code or any one or more of these provisions, including appeal proceedings arising therefrom, shall be for the sole benefit of the creditors of DHFL, in that event, to declare, order and direct that the avoidance applications filed Respondent No. 1 shall not abate and shall be continued even after the approval of Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... various rounds of negotiations the plan amount was increased substantially by the Successful Resolution Applicant finally to ₹ 37,250 Crores. Respondents also submitted that 63 Moons Technologies Limited, the applicant also voted in favour of the Resolution Plan and it cannot agitate the same now when 94.5% of CoC members approved the plan. The CoC by exercising its Commercial Wisdom have accepted, approved the resolution plan including the monies to be recovered if any from the Fraudulent Transactions. Therefore, we as Adjudicating Authority reluctant to substitute our wisdom at this stage as against their Commercial Wisdom of the CoC. Further by following the judicial precedents, discipline and various Judgements of the Hon'ble ..... X X X X Extracts X X X X X X X X Extracts X X X X
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