Issue notice for conducting meeting

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..... of their aggregate dues is not less than ten per cent of the debt. As per section 24(4) , The directors, partners and one representative of operational creditors, as referred to in section 21(3), may attend the meetings of committee of creditors, but shall not have any right to vote in such meetings: Provided that the absence of any such direct or, partner or representative of operational creditors, as the case may be, shall not invalidate proceedings of such meeting. Contents of the Notice [ Regulation 21] The notice shall inform the participants of the venue, the time and date of the meeting and of the option available to them to participate through video conferencing or other audio and visual me .....

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..... 3 ] Members of the CoC can participate in the meeting through video conferencing. Regulation 23 of the CIRP Regulations deals with participation at a meeting via video conferencing or other audio-visual means. It mandates the RP to make all necessary arrangements to ensure an uninterrupted and clear audio and/or visual connection. In this regard, the RP must ensure: integrity of the meeting, by ensuring sufficient security of the meeting and identification procedures; availability of proper audio-visual equipment; proper recording and preparation of minutes of the proceedings; clearly marked and safe storage of recordings for safekeeping; attendance or access to the meeting is limited to people .....

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..... The RP shall ensure that the required quorum is present throughout the meeting. As per regulation 22(2), if no quorum is present, the meeting will automatically adjourn and reconvene at the same time and place the next day. From the start of the committee of creditors meeting till its conclusion, no person other than the participants and any other person whose presence is required by the RP is allowed access to the place where the meeting is held or to the video conferencing or other audio and visual facility without the permission of the resolution professionals. - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia .....

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