The Insolvency and Bankruptcy Board of India (IBBI) has released new guidelines for the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code (IBC) as of August 6th, 2024. These revised guidelines are designed to streamline the resolution process, improve transparency, and ensure that decision-making within insolvency proceedings is conducted fairly and efficiently.
This significant update reflects IBBI’s ongoing efforts to enhance the governance and effectiveness of insolvency procedures, reinforcing a commitment to clearer and more equitable financial practices. The changes are expected to foster better outcomes for all stakeholders involved in insolvency resolutions.
