https://www.taxtmi.com/caselaws?id=791072 After closure of the challenge process, a resolution applicant cannot unilaterally alter its final commercial proposal through an addendum; the email was therefore a modification, not a clarification. The committee of creditors was entitled to refuse to reopen the process, assess plans on the prescribed multi-factor evaluation matrix, and approve a compliant plan in its commercial wisdom even if it was not the highest valued bid. The tribunal found no abdication of function, no material irregularity by the resolution professional, and no error in the adjudicating authority's approval of the successful resolution plan. Limited judicial review was reaffirmed. en-us Mon, 04 May 2026 00:00:00 +0530 Wed, 06 May 2026 08:32:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791072 After closure of the challenge process, a resolution applicant cannot unilaterally alter its final commercial proposal through an addendum; the email was therefore a modification, not a clarification. The committee of creditors was entitled to refuse to reopen the process, assess plans on the prescribed multi-factor evaluation matrix, and approve a compliant plan in its commercial wisdom even if it was not the highest valued bid. The tribunal found no abdication of function, no material irregularity by the resolution professional, and no error in the adjudicating authority's approval of the successful resolution plan. Limited judicial review was reaffirmed. Case-Laws IBC Mon, 04 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791072