Committee of creditors control in liquidation is expanded through revised approvals, claim handling, sale restrictions, and timelines. The liquidation framework is restructured to place the committee of creditors at the centre of decision-making during liquidation, including recommendation of the liquidator, approval of professional appointments, approval of liquidation costs, fee arrangements, continuation or institution of proceedings, private sale conditions, extensions for balance consideration, and other material liquidation activities. The committee continues to function during liquidation, with specified participation rules for secured creditors and unsecured portions of debt, and the authorised representative continues in liquidation meetings on a mutatis mutandis basis. Claim submission, verification, reporting, valuation, sale controls, and the model liquidation timeline are also revised.