Provisions of CIRP Regulation 36A(4A), the invitation for expression of interest(EOI), which has already been issued can be modified only once will not be applicable to the case dealing with the fresh publication of Form G – Anurag Verma, Resolution Professional – NCLT Chandigarh Bench
The Adjudicating Authority held that in the present case, the modifications as outlined in para 4 above are not minor modifications, but are quite substantial and change the nature of Form G. Keeping in view the ratios of the aforementioned judicial decisions, we are of the view that in the present case, the prayer is for re-publishing of Form G. As per the provisions of Regulation 36A(4A), the invitation for expression of interest, which has already been issued can be modified only once. However, the said provisions will not be applicable to the present case dealing with the fresh publication of Form G. The Resolution Professional is, therefore, to publish fresh Form G with the revised eligibility criteria for invitation of expression of interest from the prospective Resolution Applicant.
