LANDMARK CASE

Committee of Creditors of Essar Steel v. Satish Kumar Gupta

(2020) 8 SCC 531 · Supreme Court of India · Insolvency law

At a glance

Citation: (2020) 8 SCC 531
Court: Supreme Court of India
Area of law: Insolvency law
In one line: No. The CoC's commercial wisdom is paramount, and the tribunal's review is limited.

1 Facts

The NCLAT had changed the distribution in Essar Steel's resolution plan.

2 Issue

Can tribunals interfere with the commercial wisdom of the Committee of Creditors?

3 What the court decided

No. The CoC's commercial wisdom is paramount, and the tribunal's review is limited.

4 Why it matters

Central to insolvency practice.

5 Think about it

Why defer to creditors' commercial wisdom?

6 Analyse it yourself

Read the full judgment from an official source or a law database, then brief it in seven steps: facts, issues, arguments, decision, ratio, obiter and significance. Always check the citation before you rely on it.

7 More cases on Insolvency law

ArcelorMittal India v. Satish Kumar Gupta (2019) 2 SCC 1
Innoventive Industries v. ICICI Bank (2018) 1 SCC 407
Mobilox Innovations v. Kirusa Software (2018) 1 SCC 353
Pioneer Urban Land v. Union of India (2019) 8 SCC 416
Swiss Ribbons v. Union of India (2019) 4 SCC 17

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