CoCs Supremacy Prevails Over Procedural Objections

The NCLAT dismissed the appeal challenging rejection of a resolution plan and restart of the CIRP process. 

It held that the Committee of Creditors (CoC), acting within the framework of the RFRP and IBC, retains wide discretion to reject plans, even without assigning reasons, and to annul the process. 

Judicial review remains limited to statutory compliance under Section 30(2), and commercial decisions of the CoC are largely immune from interference.