Resolution applicant could not alter Financial Proposal through Last-Minute addendum after challenge process

Vedanta Ltd Vs Bhuvan Madan Resolution Professional of Jaiprakash Associates Ltd. & Ors (NCLAT Delhi) Conclusion: A resolution applicant could not unilaterally alter its financial proposal through a last minute addendum after completion of the challenge process and commencement of voting under the Corporate Insolvency Resolution Process (CIRP). Held: The issue arose after Vedanta submitted its final resolution plan on October 14, 2025 following the completion of the challenge process conducted by the Resolution Professional. Subsequently, during the 23rd CoC meeting held on November 7, 20...