Resolution Applicant cannot Alter Financial Proposal Through Last-Minute Addendum After Challenge Process: NCLAT [Read Order]
The National Company Law Appellate Tribunal (NCLAT) has held that a resolution applicant cannot unilaterally alter its financial proposal through a last minute addendum after completion of the challenge process and commencement of voting under the Corporate Insolvency Resolution Process (CIRP). READ MORE:Delay Beyond 45‑Day Limit under IBC Section 61: NCLAT Rejects CIRP Appeals, Rules…