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AGR order: Are you a Voda Idea customer? Key things you should know

If firm files for bankruptcy, rules say its daily functions will continue till sale

Surajeet Das Gupta  |  New Delhi 

Vodafone Idea customers need not panic in case the company files for bankruptcy, because under the Insolvency and Bankruptcy Code (IBC) a company continues to operate its services even after it is admitted by the National Company Law Tribunal (NCLT) as a stressed asset. According to IBC rules, the committee of creditors (COC), which includes all the banks the firm owes, confirms the appointment of the resolution professional (RP), who apart from finding a buyer ensures the day-to-day functioning of the company.

The board ceases to have any powers. In simple terms, this means that ...

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First Published: Fri, February 14 2020. 22:15 IST
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