Approved Resolution Plan couldn’t be reopened or remanded by CoC

Mehar Bhoomi Bhawan Pvt Ltd. Vs Shashi Bhushan Prasad (NCLAT Delhi) Conclusion: Once a Resolution Plan was approved by the CoC and submitted for approval under Section 31 of the Insolvency and Bankruptcy Code, 2016, the plan becomes binding inter se between the CoC and the Successful Resolution Applicant, and neither the CoC nor any subsequent reconstitution of the CoC can withdraw from or revisit the approved plan. Held: Resolution Plan submitted by appellant–successful resolution applicant (SRA) was approved by the Committee of Creditors (CoC) with 100% voting share. Resolution Pr...