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The Custodian vs. The Committee: NCLAT Navigates the “Solitary” Exception to CoC Autonomy
Introduction The scheme of Insolvency and Bankruptcy Code 2016 (“ IBC ”) has always reflected positively on the authority that the Committee of Creditors ( “CoC” ) have during an ongoing Corporate Insolvency Resolution Process ( “CIRP” ) or the Liquidation Proceedings, as the case may be. Even the Hon’ble Supreme Court, time and again, has upheld the autonomy of the CoC’s decision for appointment of the Resolution Professional and approval of the Resolution Plan leaving no do
3 hours ago4 min read
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