Resolution Applicant Can’t Withdraw or Modify Plan After Creditor Committee Approval: SC

Deccan Value Investors L.P. & Anr Vs Dinkar Venkatasubramanian & Anr (Supreme Court of India) The Supreme Court’s judgment in the case of Deccan Value Investors L.P. & Anr vs. Dinkar Venkatasubramanian & Anr addresses crucial aspects of insolvency proceedings, particularly concerning the withdrawal or modification of resolution plans post-approval by the Committee of Creditors (CoC). The crux of the matter lies in the Supreme Court’s assertion that once a resolution plan receives approval from the CoC, it becomes legally binding and irrevocable. This stance, reinfor...