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Committee of Creditors cannot withdraw resolution plan nod: Supreme Court

A bench of Justices JB Pardiwala and K Vinod Chandran, while disposing of the appeal filed by Bank of India and other CoC members, including Canara Bank, India Infrastructure Finance, Union Bank of India, UCO Bank and Punjab National Bank, said the resolution plan remains binding between CoC and the successful resolution applicant (SRA), and the improved profitability of the corporate debtor alone cannot be a reason to refuse approval of the resolution plan if it meets the requirements under IBC.

27 Oct 2026 12:44 am