CoC Can Seek Multiple Modifications to Resolution Plans: NCLAT

Sagar Stone Industries Vs Sajjan Kumar Dokania & Ors. (NCLAT Delhi) The National Company Law Appellate Tribunal (NCLAT) in Delhi has dismissed appeals filed by a Resolution Applicant, Sagar Stone Industries, challenging an order of the Adjudicating Authority. The Adjudicating Authority had rejected Sagar Stone Industries’ applications seeking the rejection of the approved resolution plan of another applicant and an inquiry against the Resolution Professional in the corporate insolvency resolution process (CIRP) of Jabalpur MSW Pvt. Ltd. Sagar Stone Industries argued that their resolu...