CoC Has Discretion To Allow Resolution Applicant To Submit Revised Plan If Its Name Appears In Final Resolution Applicant List: NCLAT

The NCLAT has ruled that a "CoC has the discretion to allow a resolution applicant to submit a revised plan" if its name appears in the final list. The tribunal's decision clarifies a key procedural aspect of the IBC. The ruling reinforces the principle that a CoC can be flexible in its dealings.