India Supreme Court Bars Creditors From Withdrawing Approved Insolvency Plan
The Supreme Court ruled that lenders cannot withdraw an approved insolvency resolution plan merely because a company's financial position has improved.
Mumbai, Oct. 27 -- The Supreme Court on Monday ruled that lenders cannot withdraw an approved insolvency resolution plan merely because a company's financial position has improved, potentially limiting creditors' ability to seek better commercial terms.A division bench of Justices J.B. Pardiwala an…