Supreme Court of India
Bank of India & others v. S.M. Kamal Pasha & others
Published on this website · Updated
Civil Appeal No. 12045 of 2026
Citation: 2026 INSC 1154; reportable
Background
Background
In Bank of India v. S.M. Kamal Pasha, India’s Supreme Court held that improved finances do not let creditors withdraw a CoC-approved insolvency plan.
Legal questions
Legal questions
Can creditors withdraw a CoC-approved resolution plan awaiting NCLT approval because delay has improved the corporate debtor’s finances?
Court holding
What the Court decided
A resolution plan approved by the CoC binds the CoC and the successful resolution applicant while awaiting NCLT approval. Improved profitability alone does not justify withdrawal or refusal of approval where section 30(2) is satisfied.
Final outcome
Final outcome
Appeal disposed of without interference with the NCLAT order. NCLT requested to decide the pending plan-approval and holding-company applications together expeditiously under the statutory requirements.
Practical effect
What the decision means in practice
A resolution plan approved by the CoC binds the CoC and the successful resolution applicant while awaiting NCLT approval. Improved profitability alone does not justify withdrawal or refusal of approval where section 30(2) is satisfied.
This summary states the immediate effect recorded in the decision. The original judgment and the facts of the particular case remain controlling.
Key legal principles
Key legal principles
- A CoC-approved plan awaiting confirmation binds the CoC and successful applicant.
- Improved profitability alone cannot justify refusing approval where section 30(2) is met.
- NCLT must decide the pending applications; most other Supreme Court observations were expressly prima facie.
New judgment alerts
Follow this court or legal topic
Receive new judgments and analysis about Supreme Court of India, Commercial Law, Civil Law by email.
Primary source
Original judgment and official source
This HTML summary does not replace the court record. Use the linked original judgment PDF or official court source to verify the exact text and directions.
Later treatment
Later treatment
Research tools
Use this judgment in your research
Copy a link to a specific part
Judgment text is provided for legal research and general information. Verify the official court record before relying on it in proceedings.
Related article
Related article
In Bank of India v. S.M. Kamal Pasha, India’s Supreme Court held that improved finances do not let creditors withdraw a CoC-approved insolvency plan.
Read the related article →