https://www.taxtmi.com/article/detailed?id=13025 The article explains that substitution of a resolution applicant after CoC approval is precluded absent an RFRP provision permitting it: only persons listed as Prospective Resolution Applicants who filed EoIs and plans may be treated as implementing applicants. Equity infusion clauses do not authorise replacing the named applicant. Except for deleting non compliant provisions to satisfy Section 30(2), the CoC cannot modify an approved plan to substitute an entity that did not participate in the CIRP; where such substitution occurred the correct remedy is to reissue Form G and complete selection anew. en-us Wed, 16 Oct 2024 19:03:40 +0530 Wed, 16 Oct 2024 19:03:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13025 The article explains that substitution of a resolution applicant after CoC approval is precluded absent an RFRP provision permitting it: only persons listed as Prospective Resolution Applicants who filed EoIs and plans may be treated as implementing applicants. Equity infusion clauses do not authorise replacing the named applicant. Except for deleting non compliant provisions to satisfy Section 30(2), the CoC cannot modify an approved plan to substitute an entity that did not participate in the CIRP; where such substitution occurred the correct remedy is to reissue Form G and complete selection anew. Articles Corporate Laws / IBC / SEBI Wed, 16 Oct 2024 19:03:40 +0530 https://www.taxtmi.com/article/detailed?id=13025