ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    In the first meeting, what majority vote is required by

    the committee of creditors to either confirm or replace the interim resolution professional with another resolution professional?
    A Seventy-five per cent of the voting share of the financial creditors Correct Answer Incorrect Answer
    B Fifty per cent of the voting share of the financial creditors Correct Answer Incorrect Answer
    C Sixty-six per cent of the voting share of the financial creditors Correct Answer Incorrect Answer
    D A simple majority of the committee members Correct Answer Incorrect Answer
    E Ninety per cent of the voting share of the financial creditors Correct Answer Incorrect Answer

    Solution

    IBC Section 22-Appointment of resolution professional: (2) The committee of creditors, may, in the first meeting, by a majority vote of not less than seventy-five 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
    More Other Laws and Acts Questions
    ask-question