Finality of the approved resolution plan under IBC

his case concerns the limits of the Committee of Creditors’ powers after approval of a resolution plan under the Insolvency and Bankruptcy Code, 2016. The NCLAT was called upon to decide whether the CoC could modify the distribution framework of an already approved plan by reallocating the Reliance Bhutan Loan from assenting to dissenting financial creditors. The judgment squarely addresses the doctrine of finality of resolution plans and the extent to which commercial wisdom survives post-approval under Sections 30 and 31 of the IBC.