​Committee of Creditors

On 7th December 2024, Reserve Bank Deputy Governor pitched for an enforceable code of conduct for the Committee of Creditors (CoC) under the insolvency resolution process.

  • CoC has a key role in implementing the corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC).

Issues Identified by RBI Deputy Governor

  • While emphasising that the Insolvency and Bankruptcy Code (IBC), which was introduced in 2016, has gained significant traction as a recovery and resolution mechanism, significant improvements are needed with respect to the area of CoC.
  • The CoC's performance has been found lacking in several aspects such as:
    • disproportionate prioritisation of individual creditors' ....

Do You Want to Read More?
Subscribe Now
To get access to detailed content

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Economy Watch