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of <h1>Insolvency Code Sec 24: Procedures for Creditor Committee Meetings, Voting Rights, and Attendance in Resolution Process</h1> Section 24 of the Insolvency and Bankruptcy Code, 2016 outlines the procedures for meetings of the committee of creditors during the corporate insolvency resolution process. Members can meet in person or electronically, with meetings conducted by the resolution professional. Notice of meetings must be given to committee members, suspended board members, and operational creditors if their dues exceed ten percent of the debt. Directors, partners, and operational creditor representatives may attend but cannot vote. Creditors can appoint insolvency professionals to represent them at meetings, with voting rights based on their financial debt share. The resolution professional assigns voting shares as specified by the Board.
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