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of <h1>Insolvency Board Clarifies CoC Meeting Process: RP Must Convene if 33% Voting Rights Request, Consider Below 33% on Merits.</h1> The circular from the Insolvency and Bankruptcy Board of India clarifies the process for convening a meeting of the Committee of Creditors (CoC) under the CIRP Regulations. It states that a resolution professional (RP) must convene a CoC meeting if requested by members holding at least 33% of voting rights, accompanied by a note outlining the matters or issues to be discussed. If members hold less than 33% of voting rights, the RP should consider the request on its merits. The circular outlines specific actions the RP must take based on the voting rights of the requesting members.
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