Adjudicating Authority Decides Fairness And Reasonableness While Approving Resolution Plan, High Court Cannot- Delhi High Court

The Delhi High Court ruled that adjudicating authorities, not the High Court, are responsible for determining the fairness and reasonableness of resolution plans under the Insolvency and Bankruptcy Code (IBC). The court emphasized that once the resolution plan is approved, judicial intervention should be minimal unless there is a manifest legal error. This judgment reinforces the autonomy of insolvency professionals and adjudicating authorities in assessing the viability of resolution plans, ensuring that the IBC process remains efficient and transparent.