https://www.taxtmi.com/notifications?id=125760 Amendments create a defined class of creditors and require the IRP to identify classes, propose three eligible insolvency professionals per class, and obtain their consent; creditors in a class must submit "claim with proof" in Form CA and indicate their choice of authorised representative. The IRP selects the insolvency professional with highest choices for appointment by the Adjudicating Authority; authorised representatives facilitate communication and voting but do not verify claims and are entitled to prescribed fees. Procedural timelines, EoI and resolution-plan processes, withdrawal mechanism, and avoidance-transaction milestones are also specified with updated Forms. en-us Tue, 03 Jul 2018 00:00:00 +0530 Thu, 05 Jul 2018 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=125760 Amendments create a defined class of creditors and require the IRP to identify classes, propose three eligible insolvency professionals per class, and obtain their consent; creditors in a class must submit "claim with proof" in Form CA and indicate their choice of authorised representative. The IRP selects the insolvency professional with highest choices for appointment by the Adjudicating Authority; authorised representatives facilitate communication and voting but do not verify claims and are entitled to prescribed fees. Procedural timelines, EoI and resolution-plan processes, withdrawal mechanism, and avoidance-transaction milestones are also specified with updated Forms. Notifications IBC Tue, 03 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=125760