The expanding commercial wisdom of CoC: Will the IBC (Amendment) Act 2026 actually reduce delays?
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Summary
The architectural foundation of India’s Insolvency and Bankruptcy Code, 2016 (“IBC”), marks a structural shift from the archaic debtor-in-possession model to a creditor-in-control paradigm. Central to this design is the Committee of Creditors (“COC”), an entity whose “commercial wisdom” has been elevated by judicial interpretation into nearly unassailable doctrine.Despite this, the primary criticism of the IBC remains its long timelines. By late 2025, the Insolvency and Bankruptcy Board of India