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of <h1>IBBI Circular Clarifies CoC Voting: Only Admitted Financial Creditors Have Voting Rights Under Insolvency Code 2016.</h1> The circular from the Insolvency and Bankruptcy Board of India addresses voting procedures in the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code, 2016. It clarifies that only financial creditors whose claims have been admitted are members of the CoC and have voting rights. A creditor not admitted into the CoC cannot be considered as dissenting or abstaining from voting. The circular outlines the process for claim submission and CoC constitution, emphasizing that decisions made before a creditor's inclusion remain valid. It was issued under specific sections of the Code and has since been rescinded by a later circular.
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