Voting share proportionate to financial debt including agreed interest; authorised representative manages communication and receives per meeting fee. Resolution professional must provide each authorised representative with the class creditor list at commencement and when updated, enable electronic ... Summary
Referred In :
Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021
Voting share proportionate to financial debt including agreed interest; authorised representative manages communication and receives per meeting fee.
Resolution professional must provide each authorised representative with the class creditor list at commencement and when updated, enable electronic communication between representative and creditors, and the authorised representative has no role in claims receipt or confirmation. Voting share is proportionate to financial debt including interest at eight per cent per annum unless otherwise agreed. The authorised representative is entitled to a fee per meeting and must circulate agendas and solicit preliminary views subject to specified minimum time windows, which are not voting instructions.
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