Permitting Repeated Invitation of EOI (Form G) merely on behest of Individual Stakeholder Will Defeat Timeliness under IBC: NCLT

The NCLT has ruled that "permitting repeated invitation of EOI (Expression of Interest) or Form G merely on the behest of an individual stakeholder will defeat the timeliness under the IBC." The tribunal emphasized that the insolvency process has a strict time-bound framework, and it cannot be extended indefinitely for the benefit of a single stakeholder. This ruling is crucial for ensuring the sanctity of the timelines under the IBC and preventing unnecessary delays in the resolution of a corporate debtor.