Definition
The governing body of financial creditors constituted during CIRP under the IBC. The CoC has commercial decision-making authority over the resolution process, including approval of the Resolution Plan by a 66% majority vote. Operational creditors with aggregate dues of at least 10% of total debts can participate but without voting rights.
Need Expert Advice on CoC (Committee of Creditors)?
For specific advice on how CoC (Committee of Creditors) applies to your debt recovery matter, consult Advocate Subodh Bajpai — LLM, MBA (XLRI Jamshedpur). 25+ years of exclusive banking and debt recovery practice across DRT, SARFAESI, IBC, and NI Act.
Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates