https://www.taxtmi.com/caselaws?id=766258 NCLAT Principal Bench dismissed appellant's challenge to resolution plan approval. Committee of Creditors extended timeline for Expression of Interest and resolution plan submissions in February 2023, which was contemplated in original invitation's Clause 6. Appellant objected to timeline extension and inclusion of successful bidder in prospective resolution applicants list. NCLAT held that timeline extension under existing EoI provisions didn't require fresh Form G publication, distinguishing between modification and extension under Regulation 36B. Appellant participated in process after extension without objection, submitting revised resolution plan. Successful bidder's plan was approved with 96.05% voting share. Court found no material irregularity warranting CIRP process invalidation, dismissing appeal for lack of merit. en-us Tue, 18 Feb 2025 00:00:00 +0530 Fri, 21 Feb 2025 08:23:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766258 NCLAT Principal Bench dismissed appellant's challenge to resolution plan approval. Committee of Creditors extended timeline for Expression of Interest and resolution plan submissions in February 2023, which was contemplated in original invitation's Clause 6. Appellant objected to timeline extension and inclusion of successful bidder in prospective resolution applicants list. NCLAT held that timeline extension under existing EoI provisions didn't require fresh Form G publication, distinguishing between modification and extension under Regulation 36B. Appellant participated in process after extension without objection, submitting revised resolution plan. Successful bidder's plan was approved with 96.05% voting share. Court found no material irregularity warranting CIRP process invalidation, dismissing appeal for lack of merit. Case-Laws IBC Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766258