NCLAT can't force us to change approved resolution plan: Essar Steel CoC

The National Company Law Appellate Tribunal (NCLAT) or the National Company Law Tribunal (NCLT) cannot force the Committee of Creditors (CoC) of Essar Steel India Limited to change the terms of the resolution plan after it has been approved under Section 3 of the Insolvency and Bankruptcy Code (IBC), lenders said in their plea before the Supreme Court.

The lenders to debt-ridden Essar Steel had approached the apex court on Monday challenging the NCLAT’s March 18 and March 20 orders in which it had asked the Resolution Professional (RP) of the company to call a fresh meeting of the CoC