Approval of committee of creditors for certain actions [ Section 28 ]

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Approval of committee of creditors for certain actions [ Section 28 ]

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....essional (RP), during the corporate insolvency resolution process, shall not take any of the following actions without the prior approval of the committee of creditors (CoC) namely:- * (a) raise any interim finance in excess of the amount as may be decided by the committee of creditors in their meeting; * (b) create any security interest over the assets of the corporate debtor; * (c) change ....

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....btor or their nominees to third parties; * (j) make any change in the management of the corporate debtor or its subsidiary; * (k) transfer rights or financial debts or operational debts under material contracts otherwise than in the ordinary course of business; * (l) make changes in the appointment or terms of contract of such personnel as specified by the committee of creditors; or * (m) ....

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Approval of committee of creditors for certain actions [ Section 28 ]