NCLT Principal Bench dismissed two applications challenging the approval of a resolution plan for Mastana Foods Pvt Ltd.
The CoC-approved plan by HR Commercials and Crown Steels consortium offered INR 135.68 crore, deemed superior in evaluation.
Tribunal upheld CoC's commercial wisdom, rejecting allegations of procedural unfairness and post-bid manipulation.
The order reinforces limited judicial review of CoC decisions under IBC, focusing on plan feasibility and compliance.