CoC has no power to distribute money promised in Resolution Plan, NCLAT in Essar Steel Insolvency

CoC has no power to distribute money promised in Resolution Plan, NCLAT in Essar Steel Insolvency

The National Company Law Appellate Tribunal has held that the Committee of Creditors (CoC) has no role to play in the matter of distribution of amount promised in the Resolution Plan among the financial and operational creditors of the corporate debtor.

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