https://www.taxtmi.com/caselaws?id=771566 NCLAT dismissed appeal challenging resolution plan approval. Appellant submitted revised payment proposal after deadline, claiming it was mere clarification. Tribunal held email titled "Revised Payment Proposal" clearly constituted modification prohibited under challenge process document. Appellant initially offered 25% upfront payment within 45 days and 75% in 364 days, later attempting to modify second installment to 90 days. CoC properly exercised commercial wisdom approving resolution plan with 73.38% vote share. Adjudicating Authority correctly declined to interfere with CoC's commercial decision and properly dismissed intervention application. en-us Thu, 15 May 2025 00:00:00 +0530 Wed, 28 May 2025 08:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771566 NCLAT dismissed appeal challenging resolution plan approval. Appellant submitted revised payment proposal after deadline, claiming it was mere clarification. Tribunal held email titled "Revised Payment Proposal" clearly constituted modification prohibited under challenge process document. Appellant initially offered 25% upfront payment within 45 days and 75% in 364 days, later attempting to modify second installment to 90 days. CoC properly exercised commercial wisdom approving resolution plan with 73.38% vote share. Adjudicating Authority correctly declined to interfere with CoC's commercial decision and properly dismissed intervention application. Case-Laws IBC Thu, 15 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771566