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2022 (10) TMI 324 - AT - Insolvency and BankruptcySeeking a direction for admitting the Appellant’s Claim in the Resolution Plan - seeking to declare that the Applicant is an Operational Creditor of the Petitioner to the extent of Rs.25,52,08,897/- as set out in Form B dated June 11, 2018 filed by the Applicant before the Resolution Professional - HELD THAT:- It is evident that the Commercial Wisdom of the CoC is non-justiciable except when there is any material irregularity or error apparent on the face of record, which in the instant case is absent. We do not find any material irregularity to warrant our interference or exercise our powers under Section 30(2) of the Code. in the decision of the Adjudicating Authority in dismissing the Applications preferred by the Appellant herein based on the findings of the A&M Report. It is significant to mention that the Resolution Plan was approved by the Adjudicating Authority on 28.11.2019 and has since been implemented. The contention of the Learned Sr. Counsel appearing for the Appellant that the addendum is unfair and discriminatory and hence ought to be set aside - the submissions of the Learned Sr. Counsel for the Appellant that there are no reasons for the specific addendum to have been added in the Resolution Plan, the reason being the final Report of A&M and the categorical findings of the Adjudicating Authority cannot be agreed upon. Appeal dismissed.
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