Adjudicating Authority not empowered to modify conditions in resolution plan

Mathuraprasad C Pandey Vs Partiv Parikh (NCLAT Delhi) NCLAT Delhi held that as per provisions of section 31 of Insolvency & Bankruptcy Code, 2016, Adjudicating Authority is empowered to either accept or reject the resolution plan. Adjudicating Authority is not empowered to modify/ alter the conditions in the resolution plan. Facts- The appellant, Nandish Patel, in the capacity of operational creditor filed the application u/s. 9 of the IBC Code which was admitted in the month of August, 2019 and Interim Resolution Professional namely Mr. Parthiv Parikh (IRP) was appointed as IRP. The prese...