Vidya K Highlights Limits of CoC’s “Commercial Wisdom” in JAL Insolvency Case

In a recent feature by The Hindu BusinessLine titled “JAL insolvency sees corporate titans cross swords,” Vidya K offered a nuanced perspective on the evolving contours of creditor decision-making under India’s insolvency framework.

Commenting on the reported rejection of a higher bid by Vedanta in the ongoing insolvency proceedings of Jaiprakash Associates Limited, Vidya underscored the centrality of the Committee of Creditors’ (CoC) “commercial wisdom” in the resolution process.

However, she cautioned against viewing this discretion as absolute. Vidya emphasized that while the CoC enjoys wide latitude in evaluating and approving resolution plans, its decisions must remain anchored in the core principles of transparency, fairness, and value maximisation that underpin the insolvency regime under the Insolvency and Bankruptcy Code, 2016.

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