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2021 (6) TMI 85 - NATIONAL COMPANY LAW TRIBUNAL , AHMEDABAD BENCHDirection to Respondent to conduct immediate forensic audit of the books of accounts of the Corporate Debtor - direction to issue fresh EOI so as to invite prospective Resolution Applicant(s) in accordance with the Code - HELD THAT:- It is to be mentioned herein that the Hon'ble Supreme Court has reiterated on number of occasion that National Company Law Tribunal (NCLT) or National Company Appellate Tribunal(NCLAT) cannot interfere with the Commercial wisdom of the CoC under limited scope as provided under Section 30 and 31 of IBC, which recently has been observed by the Hon'ble Supreme Court, in KALPRAJ DHARAMSHI & ANR. VERSUS KOTAK INVESTMENT ADVISORS LTD. & ANR. [2021 (3) TMI 496 - SUPREME COURT], referring to precedent such as COMMITTEE OF CREDITORS OF ESSAR STEEL INDIA LIMITED THROUGH AUTHORISED SIGNATORY VERSUS SATISH KUMAR GUPTA & OTHERS [2019 (11) TMI 731 - SUPREME COURT], K. SASHIDHAR VERSUS INDIAN OVERSEAS BANK & OTHERS [2019 (2) TMI 1043 - SUPREME COURT] - While passing the order, it is further observed that the NCLT and NCLAT cannot review the commercial decision exercised by CoC of approving the resolution Plan or rejecting the same and thereby, has given the paramount importance to the decision of the CoC which is to be taken on the basis of the commercial wisdom. There are no merit in the instant application - application not allowed.
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