Submission Of New Settlement Proposals Not Permissible After CoC Approves Resolution Plan Or Concludes CIRP: NCLAT

The NCLAT ruled that new settlement proposals cannot be submitted after the Committee of Creditors (CoC) has approved a resolution plan or concluded the Corporate Insolvency Resolution Process (CIRP). This decision underscores the finality of the CoC's decisions in insolvency proceedings, preventing further delays and promoting the timely resolution of corporate insolvency cases.