Adjudicating Authority not Empowered to Substitute its own Assumption with CoC’s Commercial Wisdom: NCLAT [Read Order]

No power on NCLT to Substitute its own Assumption with CoC's Commercial Wisdom, rules NCLAT
Adjudicating Authority - Empowered - Substitute - Assumption - CoC's Commercial Wisdom - NCLAT - taxscan

The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) held that the adjudicating authority not empowered to substitute its own assumption with the Committee of Creditors ( CoC’s ) commercial wisdom. SKS Power Generation Chhattisgarh Limited ( Corporate Debtor ) was admitted into the Corporate Insolvency Resolution Process ( “CIRP”…

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