C&M successfully represented the Resolution Professional of Simm Samm Hotels Private Limited before the NCLT, Mumbai Bench. The Tribunal upheld the CoC’s decision permitting modification in the composition of a consortium Resolution Applicant post the final list of PRAs.

C&M team comprising Himanshu Vidhani, Karan Vir Khosla and Shloka Dikshit successfully represented the Resolution Professional of Simm Samm Hotels Private Limited, before the NCLT, Mumbai Bench.

The Tribunal dismissed an application challenging the inclusion of a consortium member as a Resolution Applicant after the publication of the final list of PRAs and upheld the decisions taken by the Committee of Creditors (CoC) during the CIRP.

The Hon’ble NCLT reaffirmed that where the Request for Resolution Plan (RFRP) expressly empowers the CoC to allow modification in the composition of a consortium, and such modification is placed before the CoC, and approved unanimously by the CoC, the same cannot be questioned or termed impermissible at a later stage.

The Tribunal emphasised that the CIRP is a creditor-driven process and that the CoC retains full commercial autonomy to evaluate and approve modifications, provided they are carried out in accordance with the RFRP.

Reiterating settled principles, the NCLT held that objections raised belatedly after full participation in the process cannot undermine the CoC’s commercial wisdom or derail the timelines of the CIRP.

This ruling further strengthens the jurisprudence that the sanctity of the insolvency process and decisions of the CoC must be respected when taken in compliance with the RFRP and the IBC framework.