IBC does not envisage any intervention by Adjudicating Authority in day-to-day running of business operations of Corporate Debtor – M/s International Fresh Farm Products India Ltd. Vs. Mr. Sumat Kumar Gupta, RP – NCLT Chandigarh Bench
The Adjudicating Authority held that the issues that are being agitated by the suspended director which relate to the business operations of the corporate debtor, should have been raised first in the Coc meetings. Nothing in this regard has been stated by either parties during the proceedings. The Code mandates the CoC to take the decision with regard to the running of the business of the corporate debtor as per its commercial wisdom with the object to maximise the value of the corporate debtor. The Code does not envisage any intervention by this Adjudicating Authority in the commercial decisions and day-to-day running of the corporate debtor.