https://www.taxtmi.com/acts?id=31536 The committee of creditors constituted during the corporate insolvency resolution process continues to function through liquidation, except that a secured creditor who has not relinquished security interest is excluded, while a creditor whose remaining debt is treated as unsecured remains on the committee with voting rights limited to that remaining debt. Liquidation meetings follow the applicable meeting provisions, the first meeting must be held within seven days of the liquidation commencement date, and the liquidator must present liquidation cost, legal proceedings status, and progress. Prior approval is required for specified appointments, fees, costs, valuation, litigation steps, sale matters, and certain distribution arrangements. en-us Thu, 04 Jan 2018 10:33:08 +0530 Mon, 08 Jun 2026 16:43:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31536 The committee of creditors constituted during the corporate insolvency resolution process continues to function through liquidation, except that a secured creditor who has not relinquished security interest is excluded, while a creditor whose remaining debt is treated as unsecured remains on the committee with voting rights limited to that remaining debt. Liquidation meetings follow the applicable meeting provisions, the first meeting must be held within seven days of the liquidation commencement date, and the liquidator must present liquidation cost, legal proceedings status, and progress. Prior approval is required for specified appointments, fees, costs, valuation, litigation steps, sale matters, and certain distribution arrangements. Act-Rules IBC Thu, 04 Jan 2018 10:33:08 +0530 https://www.taxtmi.com/acts?id=31536