Authorised representative selection and duties clarified under insolvency rules, including appointment, communication, voting and fee entitlement. The regulation prescribes selection and appointment of an authorised representative for each class of financial creditors-selected by the interim resolution professional based on Form CA preferences and appointed by the Adjudicating Authority-with interim representation pending appointment. It requires provision of creditor lists and electronic communication, sets voting share calculation, excludes the representative from claims receipt and verification, allows solicitation of preliminary views that are not voting instructions, details duties to assist creditors and represent them before authorities, and specifies fee entitlements treated as insolvency resolution process costs.
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Authorised representative selection and duties clarified under insolvency rules, including appointment, communication, voting and fee entitlement.
The regulation prescribes selection and appointment of an authorised representative for each class of financial creditors-selected by the interim resolution professional based on Form CA preferences and appointed by the Adjudicating Authority-with interim representation pending appointment. It requires provision of creditor lists and electronic communication, sets voting share calculation, excludes the representative from claims receipt and verification, allows solicitation of preliminary views that are not voting instructions, details duties to assist creditors and represent them before authorities, and specifies fee entitlements treated as insolvency resolution process costs.
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