Resolution Applicant Can't Unilaterally Amend or Withdraw Resolution Plan after CoC Approval: SC

While quashing an order passed by the National Company Law Appellate Tribunal (NCLAT), the Supreme Court reiterated that the Insolvency and Bankruptcy Code (IBC) does not allow the resolution applicant to unilaterally amend, modify, or withdraw the resolution plan after approval by the committee of creditors (CoC).

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