https://www.taxtmi.com/acts?id=32469 Regulation 16A governs the appointment, replacement, duties, communication framework, voting basis, and remuneration of the authorised representative for a class of financial creditors in the corporate insolvency resolution process. The interim resolution professional selects the insolvency professional preferred by the highest number of creditors in the class, applies for appointment within two days of verification of claims, and, pending appointment, the selected professional acts as interim representative. Delay in appointment does not affect the validity of committee decisions. The regulation also sets out replacement by class vote, creditor-list disclosure, electronic communication, fee entitlements, and the representative's detailed facilitative functions. en-us Thu, 05 Jul 2018 18:20:29 +0530 Fri, 05 Jun 2026 14:58:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=32469 Regulation 16A governs the appointment, replacement, duties, communication framework, voting basis, and remuneration of the authorised representative for a class of financial creditors in the corporate insolvency resolution process. The interim resolution professional selects the insolvency professional preferred by the highest number of creditors in the class, applies for appointment within two days of verification of claims, and, pending appointment, the selected professional acts as interim representative. Delay in appointment does not affect the validity of committee decisions. The regulation also sets out replacement by class vote, creditor-list disclosure, electronic communication, fee entitlements, and the representative's detailed facilitative functions. Act-Rules IBC Thu, 05 Jul 2018 18:20:29 +0530 https://www.taxtmi.com/acts?id=32469