‘Creditors can’t alter approved resolution plan’

Creditors’ committees cannot change fund reallocation for dissenting members after a resolution plan is approved, the NCLAT ruled. The insolvency appellate tribunal dismissed Bank of Baroda’s appeal in the Reliance Communications Infrastructure case, stating that once a plan is approved, its financial structure cannot be altered, even in the name of commercial wisdom.

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<div>‘Creditors can’t alter approved resolution plan’</div>

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