IOC is awaiting the go-ahead from the Department of Investment and Public Asset Management (DIPAM), which is the administrative platform for controlling government assets. The deal marked a rare acquisition by a public sector company through the insolvency process.
When a Resolution Applicant (RA) submits a Resolution Plan to the Committee of Creditors [“CoC”], the CoC engages in extensive discussions to decide whether to approve or reject the plan. If the.