THE ROLE OF COMMITTEE OF CREDITORS (COC) IN SHAPING RESOLUTIONS
THE ROLE OF COMMITTEE OF CREDITORS (COC) IN SHAPING RESOLUTIONS Nikhil Rawat, LL.M. (Corporate Banking & Insurance), Amity Law School, Noida (U.P.) Dr Amit Dhall, Assistant Professor, Amity Law School, Noida Download Manuscript doi.org/10.70183/lijdlr.2024.v03.32 The advent of the Insolvency and Bankruptcy Code, 2016 (IBC) in India marked a seminal shift in how financial distress is addressed. At the heart of this reform lies the Committee of Creditors (CoC), a body tasked with steering the Corporate Insolvency Resolution Process (CIRP). This paper critically examines the role of the CoC in shaping corporate resolutions, balancing creditor rights with debtor protections, and influencing the efficiency and outcomes of the insolvency process. Through an analysis of statutory frameworks, landmark judicial decisions, and practical implications, the paper reveals the evolving jurisprudence and real-world dynamics surrounding the CoC’s decision-making authority. It argues for a more nuanced understanding of commercial wisdom, transparency, and accountability, especially in light of the increasing scrutiny by courts and stakeholders. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume III, Issue I, Page 787-806. Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. © Authors, 2024
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