https://www.taxtmi.com/article/detailed?id=10745 The amended Regulations require the liquidator to form a Stakeholders' Consultative Committee of class representatives with access to records; secured creditors retaining security are excluded. The committee advises on professional remuneration, sale process, liquidator's fees, valuation and pursuit/distribution of proceeds from avoidance or misconduct proceedings. Voting is proportionate to admitted claims; certain parties may attend without voting and related-party creditors are ineligible. The committee is advisory only; the liquidator must record and file reasons when departing from advice. The committee may propose replacement of the liquidator by qualified majority. en-us Wed, 12 Oct 2022 09:57:30 +0530 Wed, 12 Oct 2022 09:57:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10745 The amended Regulations require the liquidator to form a Stakeholders' Consultative Committee of class representatives with access to records; secured creditors retaining security are excluded. The committee advises on professional remuneration, sale process, liquidator's fees, valuation and pursuit/distribution of proceeds from avoidance or misconduct proceedings. Voting is proportionate to admitted claims; certain parties may attend without voting and related-party creditors are ineligible. The committee is advisory only; the liquidator must record and file reasons when departing from advice. The committee may propose replacement of the liquidator by qualified majority. Articles Corporate Laws / IBC / SEBI Wed, 12 Oct 2022 09:57:30 +0530 https://www.taxtmi.com/article/detailed?id=10745