https://www.taxtmi.com/notifications?id=133772 Amendments direct that insolvency professionals be chosen with regard to the State or Union Territory having the highest number of creditors in the class, allow nearby State professionals where local capacity is lacking, require authorised representatives to circulate agendas and solicit preliminary views with a minimum twelve hour submission window opening at least twenty four hours after solicitation (not to be treated as voting instructions), and rework committee procedures: evaluate plans per the evaluation matrix, record deliberations, vote simultaneously, approve a single plan on requisite votes, approve the highest vote plan among multiple plans if it meets requisite votes, apply a pre announced tie breaker for equal votes, and re vote on the highest vote plan if none meet the requisite threshold subject to Code timelines. en-us Fri, 07 Aug 2020 00:00:00 +0530 Sat, 08 Aug 2020 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=133772 Amendments direct that insolvency professionals be chosen with regard to the State or Union Territory having the highest number of creditors in the class, allow nearby State professionals where local capacity is lacking, require authorised representatives to circulate agendas and solicit preliminary views with a minimum twelve hour submission window opening at least twenty four hours after solicitation (not to be treated as voting instructions), and rework committee procedures: evaluate plans per the evaluation matrix, record deliberations, vote simultaneously, approve a single plan on requisite votes, approve the highest vote plan among multiple plans if it meets requisite votes, apply a pre announced tie breaker for equal votes, and re vote on the highest vote plan if none meet the requisite threshold subject to Code timelines. Notifications IBC Fri, 07 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/notifications?id=133772