Committee of creditors framework governs financial creditor participation, voting shares, authorised representation, and liquidation supervision. The interim resolution professional must constitute the committee of creditors after collating claims and determining the corporate debtor's financial position. The committee comprises all financial creditors, subject to exclusion of related parties from representation, participation and voting, with limited exceptions for certain regulated financial creditors. The provision also governs consortium lending, dual-status creditors, assignment of operational debt, authorised representation, voting share, decision-making by majority voting share, access to financial information, and continued committee supervision during liquidation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Committee of creditors framework governs financial creditor participation, voting shares, authorised representation, and liquidation supervision.
The interim resolution professional must constitute the committee of creditors after collating claims and determining the corporate debtor's financial position. The committee comprises all financial creditors, subject to exclusion of related parties from representation, participation and voting, with limited exceptions for certain regulated financial creditors. The provision also governs consortium lending, dual-status creditors, assignment of operational debt, authorised representation, voting share, decision-making by majority voting share, access to financial information, and continued committee supervision during liquidation.
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