NCLAT held that upon receipt of a “rejected” Resolution Plan, the Adjudicating Authority is not expected to do anything more, but is obligated to initiate the Liquidation Process under Section 33(1) of the Code. Similarly, in the present case, since the Resolution Plan was not approved by the Committee of Creditors and did not meet the requirements of Section 30(4) of the Code, 2016, The Adjudicating Authority now is to proceed for Liquidation under Section 33 (1) of the Code, 2016. It is also essential to understand that the NCLT & NCLAT has limited Judicial Review Jurisdiction, while dealing with the approval or rejection of the Resolution Plan which has to be within four corners of section 30(2) of Code, 2016, insofar as the Adjudicating Authority is concerned and section 32 read with section 61(3)of the Code insofar as the Appellate Tribunal is concerned and under no circumstances the Adjudicating Authority or the Appellate Tribunal can trespass upon the commercial decision of the Committee of Creditors.