Section 5 - Amendment of section 25A. - Insolvency and Bankruptcy Code (Amendment) Act, 2019

Amendment of section 25A. 5. In section 25A of the principal Act, after sub-section (3), the following sub-section shall be inserted, namely:- (3A) Notwithstanding anything to the contrary contained in sub-section (3), the authorised representative under sub-section (6A) of section 21 shall cast his vote on behalf of all the financial creditors he represents in accordance with the decision taken by a vote of more than fifty per cent. of the voting share of the financial creditors he represents, who have cast their vote: Provided that for a vote to be cast in respect of an application under section 12A, the authorised representative shall cast his vote in accordance with the provisions of sub-section (3). .