Resolution applicant not allowed to withdraw/Alter Resolution Plan after approval by CoC

Hem Singh Bharana Vs Pawan Doot Estate Private Limited Through Sh. Darshan Singh (Resolution Professional) (NCLAT Delhi) In a recent decision by the National Company Law Appellate Tribunal (NCLAT) in the case of Hem Singh Bharana Vs Pawan Doot Estate Private Limited, an important precedent has been set regarding the withdrawal or alteration of a resolution plan after its approval by the Committee of Creditors (CoC). The case sheds light on the statutory framework of the Insolvency and Bankruptcy Code (IBC) and clarifies the limitations imposed on resolution applicants, particularly ex-promoter...