High Court directs IBBI to frame a Code of Conduct for Committee of Creditors (CoC) within three months – Mr. Kunwer Sachdev Vs. IDBI Bank and Ors. – Delhi High Court
Hon’ble Delhi High Court issues directions to IBBI to frame/finalise a code of conduct/guidelines in accordance with its stand set out in the instant case, principles mentioned hereinabove and as per other relevant considerations, within a reasonable period of time, preferably, within three months from the date of the passing of this judgment, for the effective functioning of the CoC, without diluting the sanctity of the ‘commercial wisdom’ of the CoC and the legislative intent of the IBC.
