Committee of Creditors (CoC)

Committee of Creditors (CoC) under the IBC is a committee consisting of the financial creditors (commercial banks and other entities who provided funds to the corporate) of the corporate defaulter. Significance of the CoC is the corporate debtor has to give major portion of his debt to the commercial banks etc., who constitute the CoC. Or in other words, the major chunk of the dues of the corporate debtor is that of Financial Creditors.

August 15, 2019
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