NCLT Chennai Stresses Need To Set Norms For Evaluation Of Resolution Plans By Committee Of Creditors [Read Order]

Chennai Bench of the National Company Law Tribunal (NCLT) has called for "Standard Operating Procedures" for managing the affairs of the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code (IBC)."…the Head offices of the members of the CoCs are directed to work out a "Standard Operating Procedure" for being followed by the member of the CoCs for determining the suitability...