---
title: "Committee of Creditors (CoC): Role Under IBC"
description: "The Committee of Creditors (CoC) governs decisions in India's corporate insolvency process, requiring a 66% value vote to approve resolution plans."
url: "https://modeldiplomat.com/learn/glossary/committee-of-creditors"
---

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Model Diplomat Research Team · Last reviewed June 22, 2026

TL;DR

- The Committee of Creditors is the body of financial creditors that governs decisions during India's corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
- Why do operational creditors not get voting rights in the Committee of Creditors?
- What voting threshold must the CoC meet to approve a resolution plan?
- What is the doctrine of 'commercial wisdom' of the CoC?
- How are dissenting financial creditors protected if outvoted in the CoC?

[Civil Service & Diplomatic Exams](https://modeldiplomat.com/learn/civil-services/glossary)Updated June 22, 2026

The Committee of Creditors is the body of financial creditors that governs decisions during India's corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.

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In November 2019, the Supreme Court in Committee of Creditors of Essar Steel v. Satish Kumar Gupta upheld the CoC's approval of ArcelorMittal's resolution plan, entrenching the doctrine that the committee's commercial wisdom is paramount.

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