Committee Of Creditors Not Prohibited From Seeking Multiple Modifications Or Revisions Of Resolution Plans: NCLAT

The NCLAT ruled that the Committee of Creditors (CoC) is not prohibited from seeking modifications or revisions of resolution plans from resolution applicants multiple times. This decision provides flexibility in the resolution process under the IBC. The ruling ensures that the CoC can negotiate and improve resolution plans to maximize recovery. It reflects the tribunal's aim to facilitate effective corporate insolvency resolutions.