Modifications/alterations after approval of resolution plan of CoC and before approval by Adjudicating Authority not justified

Dr. Ravi Shankar Vedam Vs Tiffins Barytes Asbestos and Paints Limited (NCLAT Chennai) NCLAT Chennai held that subsequent to the approval of the Resolution Plan of the CoC and before the approval by the Adjudicating Authority, no modifications / alterations can be called for as IBC is a time bound process. Facts- The present appeals are filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 vide which the appellant has sought for forensic audit of the ‘Books of Accounts’ of the Corporate Debtor, and not to approve the Resolution Plan till the disposal of the Application. Further...