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MCA, Finance Ministry hammer out key changes to IBC at review meet

The IBBI has said that the CoC functions in an unregulated environment

Krishnamurthy Subramanian
premium

CEA Krishnamurthy Subramanian

Ruchika ChitravanshiShrimi Choudhary New Delhi
A high-level review meeting was held on Tuesday with Chief Economic Advisor Krishnamurthy Subramanian, corporate affairs ministry, and senior officials to discuss some key changes to the Insolvency and Bankruptcy Code (IBC). 

According to sources, one of the main topics of discussion was the code of conduct for the Committee of Creditors (CoC) proposed by the Insolvency and Bankruptcy Board of India (IBBI). 

The corporate affairs ministry is working closely with the finance ministry and other regulators on the issue of conduct of the CoC under the insolvency resolution process since it is crucial for resolving prolonged stressed assets, indicated