The Supreme Court of India has ruled that a Successful Resolution Applicant (SRA) is prohibited from negotiating further or withdrawing from a resolution plan once it has been approved by the Committee of Creditors (CoC). Justice K.V. Viswanathan and Justice Vipul M. Pancholi held that an SRA cannot use alleged conditionalities in a Letter of
Successful Resolution Applicant Cannot Renege From CoC-Approved Plan by Labeling LoI as ‘Conditional’: Supreme Court
