Institute of Legal and Management Studies

In the JSW Steel matter, the Supreme Court held that the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code, 2016 (IBC) does not become functus officio merely upon the approval of a resolution plan by the Adjudicating Authority. The Court held that the CoC continues to have a role until the resolution plan is fully implemented or an order of liquidation is passed.A...