Resolution Applicant Whose Plan Was Rejected By CoC Can Participate In Freshly Issued Invitation For Expression Of Interest: NCLAT

The NCLAT held that a resolution applicant whose plan was rejected by the Committee of Creditors (COC) can still participate in a fresh invitation for Expressions of Interest (EOI). This case involved a resolution applicant whose initial bid was rejected, and the applicant sought clarification on whether they could apply in subsequent rounds. The tribunal allowed the applicant to participate, ensuring that the resolution process remains open and competitive. This decision promotes inclusivity in the insolvency process, providing equal opportunities for all applicants, even after initial rejections.