SREI MULTIPLE ASSET INVESTMENT TRUST VISION INDIA FUND vs DECCAN CHRONICLE MARKETEERS

The Supreme Court examined the legality of modifications made to an approved Resolution Plan under the Insolvency and Bankruptcy Code, 2016, by the Committee of Creditors (CoC) and the adjudicating authority (NCLT). The Court emphasized that once a Resolution Plan is approved, any alterations or modifications by the CoC or the NCLT that deviate from the approved plan are impermissible under law. The judgment underscores the importance of maintaining the sanctity of the approved Resolution Plan to ensure procedural integrity in insolvency proceedings.