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      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.

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