Committee of Creditors cannot consider another Fresh Resolution Plan once a Resolution Plan Approved

Steel Strips Wheels Ltd. Vs Avil Menezes (NCLAT Delhi) HELD THAT -The National Company Law Appellate Tribunal (NCLAT) has in the judgement dated April 18, 2022 (Judgement), in the matter of Steel Strips Wheels Limited. v. Shri Avil Menezes, Resolution Professional of AMW Autocomponent Limited and Others [Company Appeal (AT) (Insolvency) No. 89 of 2022] held that a fresh resolution plan cannot be considered by committee of creditors of AMW Autocomponent Limited (CoC). BRIEF FACTS 1. The present appeal had been filed by the successful resolution applicant, that is, Steel Strips Wheels Limited (â...