Steno Patna Civil Court Steno Dictation No. 521

Learned Counsel for the Appellant appearing for SEML submitted that the Adjudicating Authority committed an error in passing the Order dated 06.10.2023. It is submitted that the Adjudicating Authority while examining the Resolution Plan is circumscribed by Section 31 of the Insolvency and Bankruptcy Code, 2016, (for short the Code) and legislature has not endowed the Adjudicating Authority with the jurisdiction or Authority to analyse or evaluate the commercial wisdom of the CoC.