ORDER :

1. This order would decide the cross-appeals under Section 62 of the Insolvency and Bankruptcy Code, 2016¹ [“the Code” for short] filed by the successful resolution applicants - Deccan Value Investors L.P. and DVI PE (Mauritius) Ltd. the Committee of Creditors of Metalyst Forgings Limited and Dinkar Venkatasubramanian - the Resolution Professional of Metalyst Forgings Limited.

2. The company in question, the corporate debtor, is Metalyst Forgings Ltd.

3. In our opinion, the impugned judgment dated 07.02.2020 passed by the National Company Law Appellate Tribunal² [“NCLAT” for short], New Delhi, which upholds the order dated 27.09.2019 passed by the National Company Law Tribunal³ [“NCLT” or “adjudicating authority” for short], Mumbai Bench, Mumbai, is legally flawed and unsustainable in view of the judgment of this Court in Ebix Singapore Private Limited vs. Committee of Creditors of Educomp Solutions Limited and Another, (2022) 2 SCC 401.

4. This Court in Ebix Singapore Private Limited (supra), has inter alia held that the resolution applicant cannot withdraw or modify the resolution plan, after the same is approved by the Committee of Creditors. It is immaterial that post appro