NCLAT, CoC can seek multiple modifications to Resolution Plans: Case of Sagar Stone Industries vs Sajjan Kumar Dakania, NCLAT Delhi Judgement dated 28th March 2025. The appellate tribunal clarified that Regulation 39(1A) of the CIRP Regulations, which restricts the Resolution Professional from permitting plan modifications more than once, does not bind the CoC. The CoC retains the unrestricted right to request revisions or negotiate with resolution applicants multiple times. It stated that the ‘challenge mechanism’ is an optional tool for the CoC to maximize value and its absence cannot be a valid ground to question the approval of a resolution plan. . (NCLAT Delhi Judgement dated 28/03/2025)