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of <h1>CoC with 66% votes can transfer debtor management during insolvency if fraud or mismanagement is found. Sections 14, 17-20, 25 apply.</h1> During the pre-packaged insolvency resolution process, if the committee of creditors, with at least 66% voting shares, decides to transfer management of the corporate debtor to a resolution professional, an application must be submitted to the Adjudicating Authority. If the Authority finds fraudulent conduct or gross mismanagement, it will order the management transfer. Relevant provisions from sections 14, 17, 18, 19, 20, and 25 of the Insolvency and Bankruptcy Code will apply from the order date until the process concludes. This provision was introduced by the Insolvency and Bankruptcy Code (Amendment) Act, 2021.
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