NCLT cannot direct invitation of fresh bids from resolution applicants after approval of a resolution plan by CoC: NCLAT

The NCLT had opined that there was scope for further improvement of the amount to be payable by the Resolution Applicants.
NCLT cannot direct invitation of fresh bids from resolution applicants after approval of a resolution plan by CoC: NCLAT
NCLAT

The National Company Law Appellate Tribunal (NCLAT), Chennai Bench, has ruled that after approval of a resolution by the Committee of Creditors (CoC), the Adjudicating Authority cannot direct invitation of fresh bids from resolution applicants on account of "scope for further improvement". (Renganayaki Agencies vs Sreenivasa Rao Ravinuthala)

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