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TMI BlogVoting by the Committee of creditorsX X X X Extracts X X X X X X X X Extracts X X X X ..... lvency professional other than the resolution professional 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 wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cial debt owed by the creditor debtor. Voting Procedure The voting procedures 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hrough an electronic voting system that accords with the CIRP Regulations. At the conclusion of a vote, 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the erstwhile Board of Directors of the corporate debtor (CD) being vitally interested in resolution plans that may be discussed at meetings of the committee of creditor (CoC), must be given a copy of such plans as part of documents that have to be furnished along with the notice of such meetings. Consolidated Engineering Company Anr. Vs. Golden Jubilee Hotels Pvt. Ltd. [CA (AT) (I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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