https://www.taxtmi.com/highlights?id=75857 Consideration of Resolution Plan from Non-Listed Applicants - Authority of CoC to Modify Invitation for Expression of Interest (EOI) - The NCLAT upheld Regulation 39(1)(b) which states that the CoC should not consider plans from applicants not listed as PRAs. It was noted that neither the mentioned applicant nor other similar applicants submitted an Expression of Interest (EOI) or were listed as PRAs. - The NCLAT affirmed that the CoC has the authority to modify the EOI and decide not to consider applications from non-listed applicants. It was emphasized that the CoC's decision was crucial in determining the direction of the Corporate Insolvency Resolution Process (CIRP). en-us Wed, 20 Mar 2024 09:16:01 +0530 Wed, 20 Mar 2024 09:16:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75857 Consideration of Resolution Plan from Non-Listed Applicants - Authority of CoC to Modify Invitation for Expression of Interest (EOI) - The NCLAT upheld Regulation 39(1)(b) which states that the CoC should not consider plans from applicants not listed as PRAs. It was noted that neither the mentioned applicant nor other similar applicants submitted an Expression of Interest (EOI) or were listed as PRAs. - The NCLAT affirmed that the CoC has the authority to modify the EOI and decide not to consider applications from non-listed applicants. It was emphasized that the CoC's decision was crucial in determining the direction of the Corporate Insolvency Resolution Process (CIRP). Highlights Insolvency and Bankruptcy Wed, 20 Mar 2024 09:16:01 +0530 https://www.taxtmi.com/highlights?id=75857