Unsuccessful Resolution Applicant Has No Locus To Challenge Approval Of Resolution Plan By CoC: NCLT Kolkata

The NCLT Kolkata ruled that an unsuccessful resolution applicant has no locus standi to challenge the approval of a resolution plan by the Committee of Creditors (COC). The case involved a bidder who was not selected in the resolution process but sought to challenge the plan's approval. The Tribunal concluded that once a bidder is rejected, they do not have the legal standing to dispute the outcome of the resolution plan. This decision brings clarity to the rights of unsuccessful resolution applicants under the Insolvency and Bankruptcy Code.