Supreme Court Upholds Sarda Energy's Resolution Plan for SKS Power, Dismisses Appeals

The Supreme Court upheld Sarda Energy's Rs 1,950 crore resolution plan for SKS Power Generation, dismissing appeals by Torrent Power, Jindal Power, and Vantage Point Asset Management. The court emphasized the primacy of the committee of creditors' commercial decisions under the Insolvency and Bankruptcy Code (IBC), cautioning that repeated challenges by unsuccessful bidders delay resolution and undermine the IBC's time-bound framework. It affirmed that judicial intervention should not substitute commercial wisdom once a plan is duly approved and implemented by the National Company Law Tribunal and Appellate Tribunal.