https://www.taxtmi.com/caselaws?id=309078 The National Company Law Appellate Tribunal held that Operational Creditors' representation in the 'Committee of Creditors' should be based on the claim collated and noticed by the resolution professional, not the total amount claimed by all Operational Creditors. If the verified claim is less than 10%, Operational Creditors cannot claim representation. In this case, the Operational Creditor was allowed to observe the Committee proceedings without participation rights. The decision could be challenged at the appropriate stage. The appeal was disposed of with these directives, not setting a precedent for future cases. en-us Wed, 12 Dec 2018 00:00:00 +0530 Wed, 09 Aug 2023 21:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309078 The National Company Law Appellate Tribunal held that Operational Creditors' representation in the 'Committee of Creditors' should be based on the claim collated and noticed by the resolution professional, not the total amount claimed by all Operational Creditors. If the verified claim is less than 10%, Operational Creditors cannot claim representation. In this case, the Operational Creditor was allowed to observe the Committee proceedings without participation rights. The decision could be challenged at the appropriate stage. The appeal was disposed of with these directives, not setting a precedent for future cases. Case-Laws Insolvency and Bankruptcy Wed, 12 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309078