New Cracking SEBI General in 60 Days - Possible or Not?
Register

Question

The committee of creditors, may, in the first meeting, ________________________, either resolve to appoint the interim resolution professional as a resolution professional or to replace the interim resolution professional by another resolution professional.

A By the vote of the members present in the meeting Correct Answer Incorrect Answer
B By a majority vote of not less than sixty-six per cent of the voting share of the financial creditors Correct Answer Incorrect Answer
C By a majority vote of not less than seventy-five per cent of the voting share of the financial creditors Correct Answer Incorrect Answer
D By a majority vote of not less than seventy-five per cent of the voting share of the financial creditors as well as the operational creditors Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Section 22-Appointment of resolution professional- (2) The committee of creditors, may, in the first meeting, by a majority vote of not less than sixty-six per cent. of the voting share of the financial creditors, either resolve to appoint the interim resolution professional as a resolution professional or to replace the interim resolution professional by another resolution professional.

Practice Next
×
×