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Section 109 : Voting rights in meeting of creditors

(1) A creditor shall be entitled to vote at every meeting of the creditors in respect of the repayment plan in accordance with the voting share assigned to him.

(2) The resolution professional shall determine the voting share to be assigned to each creditor in the manner specified by the Board.

(3) A creditor shall not be entitled to vote in respect of a debt for an unliquidated amount.

(4) A creditor shall not be entitled to vote in a meeting of the creditors if he-

(a) is not a creditor mentioned in the list of creditors under section 104; or

(b) is an associate of the debtor.

 

 

Insolvency and Bankruptcy Code 2016

Section 101 Moratorium

Section 102 Public notice and claims from creditors

Section 103 Registering of claims by creditors

Section 104 Preparation of list of creditors

Section 105 Repayment plan

Section 106 Report of resolution professional on repayment plan

Section 107 Summoning of meeting of creditors

Section 108 Conduct of meeting of creditors

Section 109 Voting rights in meeting of creditors

Section 110 Rights of secured creditors in relation to repayment plan

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