Amendment of section 21

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Amendment of section 21

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....he words, brackets, figures and letter "financial creditor or the authorised representative of the financial creditor referred to in sub-section (6) or sub-section (6A) or sub-section (5) of section 24, if it is a related party of the corporate debtor," shall be substituted; (b) after the proviso, the following proviso shall be inserted, namely:- "Provided further that the first....

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....ancial debt provide for appointment of a trustee or agent to act as authorised representative for all the financial creditors, such trustee or agent shall act on behalf of such financial creditors; (b) is owed to a class of creditors exceeding the number as may be specified, other than the creditors covered under clause (a) or sub-section (6), the interim resolution professional shall make an ap....

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....a) and (c) of sub-section (6A), if any, shall be as per the terms of the financial debt or the relevant documentation; and (ii) under clause (b) of sub-section (6A) shall be as specified which shall form part of the insolvency resolution process costs."; (v) for sub-sections (7) and (8), the following sub-sections shall be substituted, namely:- "(7) The Board may specify the manner....

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Amendment of section 21