Extension of Payment Time in Resolution Plan not constitute plan modification

Ashok Dattatray Atre Vs State Bank of India (NCLAT Delhi) n the case of Ashok Dattatray Atre vs. State Bank of India, the National Company Law Appellate Tribunal (NCLAT) in Delhi deliberated on whether an extension of time for payment under a resolution plan constituted a modification of the plan or a withdrawal from it. The issue arose in response to a submission by the State Bank of India (SBI) that the resolution plan, once approved, could not be modified or withdrawn, citing the precedent set by the Supreme Court in Ebix Singapore Pvt. Ltd. vs. Committee of Creditors of Educomp Solutions L...