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Constitution of Committee of Creditors (COC) - 66% needed for CIRP - as per Section 21(2) of IBC, 2016, COC shall comprise of all financial creditors and must be construed as one and cannot be segmented class wise particularly for the purpose of computation of voting share - The voting share as are prescribed and required to be achieved IBC are mandatory in nature and cannot be held to be directory

Insolvency and Bankruptcy
8-6-2019

Constitution of Committee of Creditors (COC) - 66% needed for CIRP - as per Section 21(2) of IBC, 2016, COC shall comprise of all financial creditors and must be construed as one and cannot be segmented class wise particularly for the purpose of computation of voting share - The voting share as are prescribed and required to be achieved IBC are mandatory in nature and cannot be held to be directory

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