On 5 February 2019 a two-judge bench of the Supreme Court held that the Committee of Creditors' commercial wisdom in approving or rejecting a resolution plan by the requisite voting majority is non-justiciable. The National Company Law Tribunal's judicial review under *Section 31* is confined to *Section 30(2)* compliance — it cannot second-guess the CoC's commercial judgment. On rejection of all plans by the CoC, the Adjudicating Authority is obliged to initiate liquidation under *Section 33(1)*. The decision is the foundational articulation of the commercial-wisdom doctrine that organises post-2019 IBC jurisprudence.