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IBC - Highlights / Catch Notes

Home Highlights February 2024 Year 2024 This

Code of Conduct for the CoC - The Delhi High Court directed the ...

Insolvency and Bankruptcy

February 14, 2024

Code of Conduct for the CoC - The Delhi High Court directed the Insolvency and Bankruptcy Board of India (IBBI) to frame or finalize a code of conduct/guidelines for the effective functioning of the Committee of Creditors (CoC) in insolvency resolution processes, without undermining the 'commercial wisdom' of the CoC or the legislative intent of the Insolvency and Bankruptcy Code (IBC). This directive aims to ensure that decision-making by the CoC adheres to principles of reasonableness, fairness, proportionality, and natural justice.

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