NCLAT Upholds CoC Rejection of Goldendreams Buildcon's Resolution Plan

The NCLAT dismissed Goldendreams Buildcon's appeal against the rejection of its resolution plan for Somerset Construction, upholding the CoC's commercial wisdom.
The court found no procedural lapses, noting the CoC had followed the RFRP and IBC regulations in rejecting plans below liquidation value.
The CoC's decision to annul the process and restart with a fresh Form-G was upheld as a valid exercise of commercial discretion.