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Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

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Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

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Sep 30, 2021

SC holds that a Successful Resolution Applicant Cannot Modify or Withdraw Resolution Plan Approved by CoC

The Supreme Court in Ebix Singapore Private Limited v. Committee of Creditors of Educomp Solutions Limited[1] held that once a resolution plan submitted by a resolution applicant is duly approved by the CoC, the adjudicating authority cannot permit subsequent modifications to and withdrawal of the resolution plan in accordance with the provisions of the IBC.

 

[1] Civil Appeal No. 3224 of 2020 and other appeals (Supreme Court, September 13, 2021).

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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