IBC1 min read
Committee of Creditors
A body comprising all financial creditors of a corporate debtor, constituted during CIRP to approve or reject resolution plans and take major decisions during insolvency proceedings.
Last updated: 16 May 2026
Frequently Asked Questions (FAQs)🔗
Q1. What is Committee of Creditors in Indian corporate law?▼
A body comprising all financial creditors of a corporate debtor, constituted during CIRP to approve or reject resolution plans and take major decisions during insolvency proceedings.
Q2. Why is Committee of Creditors important for compliance?▼
Committee of Creditors is governed by the Insolvency and Bankruptcy Code, 2016 and regulated by IBBI. Understanding this concept is essential for ensuring regulatory compliance, avoiding penalties, and making informed corporate decisions in India.
Q3. Who should know about Committee of Creditors?▼
Committee of Creditors is relevant for company secretaries, compliance officers, chartered accountants, corporate lawyers, board members, and all professionals dealing with IBC regulatory matters in India.
Contextual Analysis & Regulatory Updates🔗
Read our latest analysis and critical updates on corporate circulars related to IBC:
IBBI Starts ₹500 Fee for Delayed Liquidation Forms Under Regulation 47B
Published: 24 September 2026
IBBI Further Extends PGIRP Form Filing Deadline to December 31, 2026
Published: 24 September 2026
IBBI (Liquidation Process) (Fifth Amendment) Regulations, 2026: New 30-Day Rule for Reporting Changes to the Stakeholder List
Published: 23 September 2026