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of <h1>Voting Procedures for Committee of Creditors Under IBC: Roles, Rights, and Responsibilities in Insolvency Resolution Process</h1> The voting procedures for the Committee of Creditors (CoC) during the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code (IBC). Creditors in the CoC may appoint an insolvency professional to represent them in meetings, with associated fees borne by the creditor. Voting shares are determined by the financial debts owed, and decisions are made collectively by the CoC. The resolution professional (RP) manages voting, including electronic voting, and circulates meeting minutes. Relevant case laws clarify the rights of operational creditors and the involvement of the corporate debtor's board in resolution plans.
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