Who shall be termed as a Creditor under the Insolvency and Bankruptcy Code 2016?
What is the process for initiation of Corporate Insolvency
Resolution Process by financial creditors?
What is the quorum at Committee of Creditors constituted as per IBC 2016?
What is the difference between an operational creditor and a Financial creditor?
Under IBC there is a provision that the financial creditors who have voted against the resolution plan shall be paid in priority of the financial creditors who have voted in favor of the resolution ?
Is this statement is valid ? If yes, what is the purpose served behind this provision ?
Within how much time, the minutes of the meeting shall be circulated to the members of Committee of Creditors by the Resolution Professional ?
Whether there can be a case where committee of creditors just comprise of operational creditors only while company is in Corporate Insolvency Resolution Process ?
What is the minimum limit of unspecified creditors required to enable Resolution Professional to appoint an authorized representative to attend and vote in the meeting of Committee of Creditors on the behalf of such creditors under IBC Code, 2016 ?
Whether is it mandatory to get 100% consent from creditors for reduction of capital ? Whether NCLT can relax it?
Has anyone practically worked on fast track merger in Kolkata and Mumbai region?
Thanks in advance.
Why have they considered Financial Creditors in the Committee of Creditors under IBC, 2016?
Why not Operational Creditors?
In case of fast track mergers u/s 233 of companies act, 2013 can the meeting of creditors be dispensed off by obtaining approval of the scheme by way of an affidavit by 90% of the value of creditors??
My doubt is Section 230(9) speaks about the dispense of creditors meeting. But section 233 of companies act, 2013 starts with Non obstance clause which is "Notwithstanding the provisions of section 230 and section 232". So can we take reference of section 230(9) for dispensing of creditors meeting in case of fast track mergers u/s 233 of Companies Act, 2013.
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