When no fresh Form-G has been issued, it is not open for any new Resolution Applicants to submit application before the Adjudicating Authority for being permitted to participate in the CIRP and submit Resolution Plan – Ashdan Properties Pvt. Ltd. Vs. Mamta Binani (RP of Rolta India Ltd.) and Ors. – NCLAT New Delhi

In this important decision, Hon’ble NCLAT held that CIRP Regulation 36A which provide for Invitation for Expression of Interest also empowers the CoC to modify the invitation for Expression of Interest. It is always open for the CoC to take a decision to not proceed on the Applications, EOI received and take a decision for issuance of fresh Form G and permit other applicants to participate. When no fresh Form G has been issued, it is not open for any new applicant to submit application before the Adjudicating Authority for being permitted to participate in the CIRP and submit Resolution Plan.

When no fresh Form-G has been issued, it is not open for any new Resolution Applicants to submit application before the Adjudicating Authority for being permitted to participate in the CIRP and submit Resolution Plan – Ashdan Properties Pvt. Ltd. Vs. Mamta Binani (RP of Rolta India Ltd.) and Ors. – NCLAT New Delhi Read Post »