Committee of Creditors can Vote for Multiple Resolution Plans
By INSOL India Editorial Team Posted On : September 26, 2020
The Insolvency and Bankruptcy Board of India (IBBI) in a major amendment to the Corporate Insolvency Resolution Process (CIRP) has provided that a Committee of Creditors can now vote on all compliant resolutions simultaneously and the plan that receives the highest votes subject to sitting 66%, which is the regulatory threshold, would stand approved.