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.

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.

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.