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?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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