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CoC is bound by finality of resolution plan and cannot modify post approval
Case Law Details
- Case Name
- Bank of Baroda Vs IDBI Bank Limited (NCLAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLAT
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Bank of Baroda Vs IDBI Bank Limited (NCLAT Delhi)
NCLAT Delhi held that post approval of Resolution Plan, the Committee of Creditors [CoC] itself is also bound by its finality and cannot be allowed to tinker with or modify the resolution plan including mechanism of distribution. Accordingly, the appeal is dismissed.
Facts- CIRP of Reliance Communications Infrastructure Limited commenced vide order dated 26.09.2019. Reliance Projects & Property Management Services Limited; Respondent No.3 herein, submitted a resolution plan. On the basis of e-voting the resolution plan was ...
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