CoC Cannot Remit Approved Resolution Plan Post-Submission To Adjudicating Authority: NCLAT

NCLAT has ruled that the CoC cannot remit an approved resolution plan post-submission to the Adjudicating Authority. This decision clarifies the finality of approved resolution plans. The tribunal's ruling emphasizes the importance of adhering to statutory provisions. This judgment provides clarity on IBC procedures. The ruling underscores the need for legal compliance.