https://www.taxtmi.com/caselaws?id=775651 The NCLAT upheld the CoC's discretion to permit a resolution applicant (R-3) to submit a revised resolution plan after voting on another plan had commenced but not concluded. Despite the initial voting on the appellant's plan starting on 22.05.2024, the CoC allowed R-3 to submit a higher offer of Rs.85 crore on 03.06.2024 and decided to consider both plans before completing voting. The tribunal found no illegality in the CoC's decision, emphasizing that the CoC has sole authority to approve or reject resolution plans at any stage. The NCLT's order affirming the CoC's decision was upheld, and the appeal was dismissed. en-us Fri, 25 Jul 2025 00:00:00 +0530 Mon, 28 Jul 2025 10:40:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775651 The NCLAT upheld the CoC's discretion to permit a resolution applicant (R-3) to submit a revised resolution plan after voting on another plan had commenced but not concluded. Despite the initial voting on the appellant's plan starting on 22.05.2024, the CoC allowed R-3 to submit a higher offer of Rs.85 crore on 03.06.2024 and decided to consider both plans before completing voting. The tribunal found no illegality in the CoC's decision, emphasizing that the CoC has sole authority to approve or reject resolution plans at any stage. The NCLT's order affirming the CoC's decision was upheld, and the appeal was dismissed. Case-Laws IBC Fri, 25 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775651