https://www.taxtmi.com/caselaws?id=773709 NCLAT Chennai allowed Resolution Professional's application to issue fresh Form G inviting new Expression of Interest from prospective resolution applicants. The tribunal found no legal embargo under I&B Code 2016 preventing fresh EoI after completion of resolution plan submissions and voting. NCLAT held that inviting new applicants would increase competition, result in higher bids, and maximize value - the basic objective of the Code. The order was deemed fair and transparent as it reopened EoI for all parties, not selectively. NCLAT quashed the lower tribunal's contrary order, directing completion of CIRP within statutory timelines. en-us Thu, 19 Jun 2025 00:00:00 +0530 Fri, 27 Jun 2025 08:36:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773709 NCLAT Chennai allowed Resolution Professional's application to issue fresh Form G inviting new Expression of Interest from prospective resolution applicants. The tribunal found no legal embargo under I&B Code 2016 preventing fresh EoI after completion of resolution plan submissions and voting. NCLAT held that inviting new applicants would increase competition, result in higher bids, and maximize value - the basic objective of the Code. The order was deemed fair and transparent as it reopened EoI for all parties, not selectively. NCLAT quashed the lower tribunal's contrary order, directing completion of CIRP within statutory timelines. Case-Laws IBC Thu, 19 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773709