Electronic voting secures committee ballots and mandates portal closure with recorded votes circulated promptly to participants. Regulation 37 requires the resolution professional to enable committee members to vote by electronic means using a "secured system"-a centralised, ... Summary
Referred In :
Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021
Electronic voting secures committee ballots and mandates portal closure with recorded votes circulated promptly to participants.
Regulation 37 requires the resolution professional to enable committee members to vote by electronic means using a "secured system"-a centralised, cyber-secure process for displaying ballots, recording votes and maintaining an electronic registry. The system must be reasonably secure, reliable, and fit for purpose. The voting portal shall be blocked at the end of the voting period, and the resolution professional must record and announce the decision and the names of members who voted for, against or abstained, circulating that record electronically within twenty-four hours.
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