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).
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The dispute arose after Vedanta submitted its final resolution plan on October 14, 2025 following the completion of the challenge process conducted by the Resolution Professional. Subsequently, during the 23rd CoC meeting held on November 7, 2025 all resolution plans were evaluated and…