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of <h1>CoC under Section 21 IBC: Financial Creditors Decide with 51% Vote Share, Operational Creditors Included When Necessary.</h1> The Committee of Creditors (CoC) under Section 21 of the Insolvency and Bankruptcy Code (IBC) consists of all financial creditors of a corporate debtor, excluding those who are related parties. Each creditor's voting share is proportional to the debt owed to them. In cases where only operational creditors exist, the CoC includes the 18 largest operational creditors and representatives of workmen and employees. Financial creditors in consortiums can appoint a trustee or agent to represent them. The CoC makes decisions with a minimum 51% voting share and can request financial information from the resolution professional during the insolvency process.
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