https://www.taxtmi.com/caselaws?id=448004 NCLAT dismissed the appeal challenging eligibility to submit a resolution plan for the corporate debtor. The tribunal held that under Regulations 39(1-B) and 36B(7) of IBBI (CIRP) Regulations, 2016, only resolution applicants in the final list of prospective resolution applicants can submit plans. Allowing unsolicited plans from unlisted entities would cause unnecessary delays and make the CIRP process unending. The adjudicating authority correctly restricted consideration to approved applicants to prevent violations of regulatory provisions and maintain process efficiency. en-us Mon, 08 Jan 2024 00:00:00 +0530 Wed, 10 Jan 2024 09:19:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448004 NCLAT dismissed the appeal challenging eligibility to submit a resolution plan for the corporate debtor. The tribunal held that under Regulations 39(1-B) and 36B(7) of IBBI (CIRP) Regulations, 2016, only resolution applicants in the final list of prospective resolution applicants can submit plans. Allowing unsolicited plans from unlisted entities would cause unnecessary delays and make the CIRP process unending. The adjudicating authority correctly restricted consideration to approved applicants to prevent violations of regulatory provisions and maintain process efficiency. Case-Laws Insolvency and Bankruptcy Mon, 08 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448004