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left arrow Apr 28, 2026

NCLAT Holds that Resolution Plan Approved by Sole Member of CoC Who is an Operational Creditor is Void

National Company Law Appellate Tribunal (‘NCLAT’) in Pragiti Construction v. Committee of Creditors of Rancom Healthcare Pvt. Ltd. & Ors.[1] held that permitting a resolution applicant, who is also an operational creditor (sole member of the Committee of Creditors (‘CoC’)) to vote on and approve its own resolution plan, amounts to a material irregularity in the decision-making process. Such an approval of the resolution plan is void ab initio.

The NCLAT further held that the supremacy of commercial wisdom of the CoC cannot shield a decision-making process that is fundamentally flawed due to conflict of interest and absence of procedural safeguards. The SC has affirmed this judgment passed by the NCLAT.[2]

[1] Pragiti Construction v. Committee of Creditors of Rancom Healthcare Pvt. Ltd. & Ors., Company Appeal (AT) (Ins) No. 2330-2331/2024.

[2] Rajeev Ranjan Singh v. Pragiti Constructions & Anr., Civil Appeal Nos. 3060-3061/2026.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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