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Commercial wisdom of the CoC in choosing the mode and counter-party of sale of assets, whether core or non-core, encumbered or unencumbered, is non-justiciable, barring jurisdictional or regulatory violations.
“Any dispute even pending in the arbitration does not in any manner prohibit the financial creditor to take remedy under Section 7 IBC.”
The NCLAT noted that the NCLT had not delegated its jurisdiction to the 15-member committee but tasked the committee to act under the NCLT’s oversight, ensuring compliance with its guidance and observations.
The NCLAT held the appellant’s claim was inflated, and the Adjudicating Authority rightly recalculated the actual unpaid amount, which fell below the Rs 1 crore threshold.