 "Voda Idea, Vodafone Idea")
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 Vodafone’s customers, around 300 million,
