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Operational creditors should get a say, vote in insolvency process: SC

Apex court's observations came during a hearing challenging validity of IBC

Topics
Insolvency Code  |  Insolvency Law  |  Insolvency Bill

Aashish Aryan  |  New Delhi 

Operational creditors of companies undergoing the corporate insolvency resolution process should have a say in the committee of creditors (CoC) and get voting rights proportional to the debt owed to them, the Supreme Court observed on Thursday.

A two-judge Bench of Justice Rohinton Fali Nariman and Justice Navin Sinha asked the government to mull on the issues raised by operational creditors and get back to the court with an answer by the first week of January 2019, when it will next hear the matter. The two-judge Bench is hearing a bunch of petitions of nearly 40 companies and ...

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First Published: Thu, December 13 2018. 19:43 IST
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