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Articles tagged #ResolutionPlan
CoC Cannot Withdraw Approved IBC Resolution Plan Before NCLT Confirmation Even If Company's Profitability Improves: Supreme Court (2026 INSC 1154)
In Bank of India & Ors. v. S.M. Kamal Pasha & Ors. (2026 INSC 1154), the Supreme Court held that once the Committee of Creditors approves a resolution plan and places it before the NCLT, neither the CIRP application nor the approved plan can be withdrawn merely because the debtor's finances improved.
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