Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 Chapter IV MEETINGS OF CREDITORS AND VOTING
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Creditor voting rights based on proportional debt; meetings called by the resolution professional; decisions require majority support. Regulation 11 provides that listed creditors may participate in creditors' meetings, with voting shares proportional to debt. The resolution professional must convene the first meeting per the Code and call meetings with notice served at addresses provided, with a minimum notice period where prescribed. Creditors holding a specified voting share may requisition a meeting, and unless otherwise provided in the Code, decisions require approval by a majority of the voting share of those who voted.
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.
Creditor voting rights based on proportional debt; meetings called by the resolution professional; decisions require majority support.
Regulation 11 provides that listed creditors may participate in creditors' meetings, with voting shares proportional to debt. The resolution professional must convene the first meeting per the Code and call meetings with notice served at addresses provided, with a minimum notice period where prescribed. Creditors holding a specified voting share may requisition a meeting, and unless otherwise provided in the Code, decisions require approval by a majority of the voting share of those who voted.
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