IBC | Resolution Professional Dutybound To Ensure Resolution Plan Is Legally Compliant Before Placing It In CoC : Supreme Court

The Supreme Court ruled that a Resolution Professional (RP) is duty-bound to ensure that a resolution plan submitted under the Insolvency and Bankruptcy Code (IBC) complies with legal standards before presenting it to the Committee of Creditors (CoC). The court emphasized that the RP must ensure that the plan adheres to all legal requirements to protect the interests of creditors and stakeholders. The judgment reinforces the responsibility of RPs in the IBC process and ensures that the resolution process is legally compliant and transparent before being presented for approval.