Liquidation of Corporate Debtor - No records reflects that the ...

Appellant lacks standing to challenge CoC's decision on liquidation; Supreme Court upholds CoC's non-justiciable commercial decisions.

February 2, 2022

Case Laws Insolvency and Bankruptcy AT

Liquidation of Corporate Debtor - No records reflects that the Appellant has challenged his cancellation of DIN with any appropriate Authority. No board meeting in which he has participated since cessation of his vacation of office after DIN cancellation were produced before us. Hence, the Appellant is not part of the Suspended Board of Directors and he cannot challenge the decision of the CoC as Hon’ble Apex Court has made amply clear that the Commercial Wisdom of the CoC is non- justiciable. - AT

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Liquidation of Corporate Debtor - No records reflects that the ...

Appellant lacks standing to challenge CoC's decision on liquidation; Supreme Court upholds CoC's non-justiciable commercial decisions.

February 2, 2022

Case Laws Insolvency and Bankruptcy AT

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