https://www.taxtmi.com/caselaws?id=442839 The Supreme Court granted permission to file the appeal and affirmed the NCLAT's interpretation of Regulation 39(1A) of the Insolvency and Bankruptcy Board of India Regulations. The Court clarified that the term 'or' in the sub-regulation should be construed as 'in addition to' rather than 'to the exclusion of,' allowing for modifications to the resolution plan if included in the original request. This ruling does not bar the Committee of Creditors from challenging the plan, providing room for resolution applicants to improve their proposals. Consequently, the appeal was rejected, and pending applications were resolved. en-us Fri, 25 Aug 2023 00:00:00 +0530 Mon, 11 Sep 2023 23:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442839 The Supreme Court granted permission to file the appeal and affirmed the NCLAT's interpretation of Regulation 39(1A) of the Insolvency and Bankruptcy Board of India Regulations. The Court clarified that the term 'or' in the sub-regulation should be construed as 'in addition to' rather than 'to the exclusion of,' allowing for modifications to the resolution plan if included in the original request. This ruling does not bar the Committee of Creditors from challenging the plan, providing room for resolution applicants to improve their proposals. Consequently, the appeal was rejected, and pending applications were resolved. Case-Laws Insolvency and Bankruptcy Fri, 25 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442839