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.