Sanjay Dave vs Andhra Bank Ltd. & Ors. 2026 INSC 580 - IBC -CoC‑Approved Resolution Plan

Insolvency and Bankruptcy Code, 2016 — Sections 30(2), 31, 62 – Binding nature of CoC‑approved resolution plan and effect on successful resolution applicant (SRA) — Once the CoC, exercising its commercial wisdom, approves a resolution plan and issues a Letter of Intent, the successful resolution applicant is prohibited from negotiating further or withdrawing from the plan; the plan is binding and irrevocable between the CoC and the SRA, and any attempt to treat the LoI as “conditional” so as to renege from the plan is impermissible and contrary to the IBC framework (Paras 19, 20–23, 26, 31–32)