New applicants barred from participating in CIRP without fresh Form G issuance: NCLAT

Ashdan Properties Pvt. Ltd. Vs Mamta Binani (RP of Rolta India Ltd.) & Ors. (NCLAT New Delhi) Introduction: In a recent ruling by the National Company Law Appellate Tribunal (NCLAT) in the case of Ashdan Properties Pvt. Ltd. Vs Mamta Binani (RP of Rolta India Ltd.) & Ors., significant implications were drawn regarding the eligibility of new resolution applicants to participate in the Corporate Insolvency Resolution Process (CIRP) without the issuance of a fresh Form G. This article delves into the details of the case, the tribunal’s judgment, and its implications on the insolvenc...