Authorised representative selection under insolvency resolution requires class identification, eligible professionals, creditor-location criteria, and consent. Determination of class of creditors under the corporate insolvency resolution process requires the interim resolution professional to examine the corporate debtor's books of account and relevant records and identify any creditor class present. For representation of a creditor class in the committee, the interim resolution professional must select three insolvency professionals who are not relatives or related parties, are eligible to act as resolution professional, and are willing to serve as authorised representative of the class. The selection is linked to the State or Union Territory with the highest number of creditors in the class, subject to availability, and consent must be obtained in the notified form.
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.
Authorised representative selection under insolvency resolution requires class identification, eligible professionals, creditor-location criteria, and consent.
Determination of class of creditors under the corporate insolvency resolution process requires the interim resolution professional to examine the corporate debtor's books of account and relevant records and identify any creditor class present. For representation of a creditor class in the committee, the interim resolution professional must select three insolvency professionals who are not relatives or related parties, are eligible to act as resolution professional, and are willing to serve as authorised representative of the class. The selection is linked to the State or Union Territory with the highest number of creditors in the class, subject to availability, and consent must be obtained in the notified form.
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