TaxTMI 
TaxTMI 
Voting by the Committee of creditors
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....ofessional to represent such creditor in a meeting of the committee of creditors: * Provided that the fees payable to such insolvency professional representing any individual creditor will be borne by such creditor. Voting by the committee of creditor (CoC) [ Section 24 (6), (7) & (8) ] * Each creditor shall vote in accordance with the voting share assigned to him based on the financial debts....
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....dures for the CoC are detailed in regulation 25 of the CIRP Regulations which provides that: * The RP shall take a vote of the members present at the meeting on any item listed for voting after discussion. * At the conclusion of voting, the RP shall announce the decision on items, along with the names of the members of the CoC who voted for or against, or abstained from voting. * The RP shal....
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....the RP is required to announce the result and make a written record of the summary of the decision taken on a relevant agenda item, along with the names of the members of the CoC who voted for or against the decision, or abstained from voting. * Further, the RP shall circulate a copy of the record to all participants by electronic means within 24 hours of the conclusion of voting. * For voting....