Meeting of committee of creditors governs notices, attendance, authorised representation and voting shares in insolvency resolution process. Meetings of the Committee of Creditors are held by the resolution professional in person or electronically; notices must be given to committee members, the suspended board or partners, and qualifying operational creditors. Directors, partners and one operational creditor representative may attend without voting rights. Any committee creditor may appoint a separate insolvency professional at its own expense to represent it. Each creditor votes according to the Voting Share assigned based on their financial debt, as determined by the resolution professional in the manner specified by the Board, and meetings are to be conducted as prescribed.
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.
Meeting of committee of creditors governs notices, attendance, authorised representation and voting shares in insolvency resolution process.
Meetings of the Committee of Creditors are held by the resolution professional in person or electronically; notices must be given to committee members, the suspended board or partners, and qualifying operational creditors. Directors, partners and one operational creditor representative may attend without voting rights. Any committee creditor may appoint a separate insolvency professional at its own expense to represent it. Each creditor votes according to the Voting Share assigned based on their financial debt, as determined by the resolution professional in the manner specified by the Board, and meetings are to be conducted as prescribed.
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