Committee of creditors

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.... his security interest under section 52 shall not be part of the committee. Provided further that with reference to Explanation in clause (b) in sub-section (1) of section 53, the creditor whose value of debt remains and is considered as unsecured creditor shall be a part of the committee for the remaining portion of debt and shall have the voting rights to the value of the remaining debt.&nbsp....

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.... (b) the consolidated status of all the legal proceedings; and (c) the progress made in the process. (4) The liquidator shall not undertake the following without the prior approval of the committee: (a) appointment and remuneration of professionals appointed under regulation 7;  (b) fees of the liquidator; (c) liquidation costs;  (d) valuat....

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.... not less than sixty-six per cent., in matters relating to: (a) sale under regulation 32, including manner of sale, pre-bid qualifications, reserve price, marketing strategy and auction process;  (b) the manner in which proceedings in respect of preferential transactions, undervalued transaction, extortionate credit transaction or fraudulent or wrongful trading, if any, shal....