NCLAT Upholds Rejection of Green Soul Consortium Change

NCLAT dismissed an appeal challenging NCLT Mumbai's order to remand a resolution plan back to CoC for reconsideration.
The dispute centered on the permissibility of adding a new member to a consortium after its resolution plan was approved.
The tribunal ruled that post-approval changes to a consortium's composition violate IBC provisions and the RFRP process.
The corporate debtor, Green Soul Ergonomics, remains in CIRP as the CoC has initiated a fresh resolution process.