IBC, Delhi High Court
IBC, Delhi High Court

Delhi High Court asks IBBI to frame code of conduct for functioning of Committee of Creditors within 3 months

The Court said that since the commercial wisdom of the CoC is placed on the highest pedestal, it is necessary that the decision-making process is infused with safeguards.

The Delhi High Court has directed the Insolvency and Bankruptcy Board of India (IBBI) to frame a code of conduct or guidelines for the effective functioning of Committees of Creditors (CoC), within three months [Kunwer Sachdev v. IDBI Bank & Ors].

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