CONDUCT OF THE FAST TRACK PROCESSInsolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017
CONDUCT OF THE FAST TRACK PROCESSInsolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017
Regulation 16 - Committee with only operational creditors
Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 Chapter V COMMITTEE OF CREDITORS
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Operational-creditor committee where no independent financial creditors exist: membership by largest operational creditors with proportional voting. Where a corporate debtor has no financial debt or all financial creditors are related parties, a committee composed of the largest operational creditors ... Summary
Operational-creditor committee where no independent financial creditors exist: membership by largest operational creditors with proportional voting.
Where a corporate debtor has no financial debt or all financial creditors are related parties, a committee composed of the largest operational creditors plus elected workmen and employee representatives must be formed; members have voting rights in proportion to the debt they represent, and the committee has the same rights, powers, duties and obligations as a committee of financial creditors.
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