https://www.taxtmi.com/caselaws?id=784019 The dominant issue was whether an approved resolution plan's distribution mechanism could be modified post-approval by reallocating an assigned loan from approving financial creditors to dissenting financial creditors under the plan's "other entity" clause. The NCLAT held that the plan expressly contemplated assignment of the specified loan to approving financial creditors and distribution of the balance resolution amount among approving financial creditors, including that loan. Any subsequent attempt by an approving financial creditor to alter this arrangement by seeking a CoC meeting amounted to an impermissible modification of a CoC-approved plan. Relying on s.30(4) IBC and the binding effect of an approved plan, the Tribunal held that commercial wisdom cannot justify post-approval changes. The appeal was dismissed. en-us Tue, 23 Dec 2025 00:00:00 +0530 Sat, 27 Dec 2025 08:05:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784019 The dominant issue was whether an approved resolution plan's distribution mechanism could be modified post-approval by reallocating an assigned loan from approving financial creditors to dissenting financial creditors under the plan's "other entity" clause. The NCLAT held that the plan expressly contemplated assignment of the specified loan to approving financial creditors and distribution of the balance resolution amount among approving financial creditors, including that loan. Any subsequent attempt by an approving financial creditor to alter this arrangement by seeking a CoC meeting amounted to an impermissible modification of a CoC-approved plan. Relying on s.30(4) IBC and the binding effect of an approved plan, the Tribunal held that commercial wisdom cannot justify post-approval changes. The appeal was dismissed. Case-Laws IBC Tue, 23 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784019