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of <h1>Regulation 16C mandates facilitator appointment for creditor classes over 1000, with up to five facilitators allowed.</h1> Regulation 16C of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, outlines the appointment of facilitators when the number of creditors in a class exceeds one thousand. The committee of creditors may direct the appointment of an insolvency professional or another person as a facilitator for a sub-class within the creditors, provided at least one hundred creditors request it after the first committee meeting. The number of facilitators is capped at five, and their fees are set at twenty percent of those for the authorized representative, included in the insolvency resolution process cost. Facilitators can be replaced by a majority recommendation from the sub-class.
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