CoC is bound by finality of resolution plan and cannot modify post approval

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 r

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