CHAPTER II - CORPORATE INSOLVENCY RESOLUTION PROCESS

Section 24 of the Insolvency and Bankruptcy Code 2016: Meeting of Committee of Creditors

Updated: 30 September 2026 | Insolvency and Bankruptcy Code, 2016

Section 24 regulates meetings of the Committee of Creditors during the corporate insolvency resolution process. It identifies who conducts the meeting, who must receive notice, who may attend and vote, how a creditor may be represented, and how voting share is determined.

Current-law update: The present Section 24 includes authorised representatives within the notice and representation framework introduced by the 2018 amendments. The Insolvency and Bankruptcy Code (Amendment) Act, 2026 also gives Section 24 additional relevance in qualifying liquidation processes because the amended Section 21 provides for Sections 21 and 24 to apply to liquidation as the context requires.

Contents

In-person and electronic meetings
Meeting conducted by resolution professional
Persons entitled to notice
Attendance and voting rights
Creditor representation
Voting share
Meeting procedure under regulations
Relevant definitions

Section 24(1): In-Person or Electronic Meetings

Members of the Committee of Creditors may meet in person or by electronic means in the manner specified under the applicable regulations.

This enables CoC participation without requiring every member to be physically present, subject to the procedural and technological requirements prescribed by the Insolvency and Bankruptcy Board of India.

Section 24(2): Resolution Professional Conducts CoC Meetings

Every meeting of the Committee of Creditors is conducted by the resolution professional. This function is part of the resolution professional's wider responsibility to conduct CIRP under Section 23.

Section 24(3): Who Must Receive Notice of a CoC Meeting

The resolution professional must give notice of each CoC meeting to the persons specified by Section 24(3), including:

CoC membersMembers of the Committee of Creditors, including the authorised representatives referred to in the applicable provisions of Section 21 and Section 24.

Suspended managementMembers of the suspended Board of Directors or partners of the corporate person, as applicable.

Operational creditorsOperational creditors, or their representatives, where their aggregate dues are not less than 10 percent of the debt.

Authorised representativesWhere the Code provides representation for creditors in a class or other specified financial creditors, the relevant authorised representative participates in accordance with Sections 21, 24 and 25A.

Section 24(4): Attendance Does Not Automatically Carry Voting Rights

Directors, partners and the representative of operational creditors referred to in Section 24(3) may attend CoC meetings but do not have a right to vote merely because of that attendance. Their absence does not invalidate the proceedings of the meeting.

Important distinction: A right to receive notice or attend a CoC meeting is different from a right to vote. Voting rights arise from the Code and the creditor's eligible voting share, not merely from attendance.

Section 24(5): Representation of a CoC Member

Subject to the authorised-representative provisions in Section 21, a creditor who is a member of the CoC may appoint an insolvency professional other than the resolution professional to represent that creditor at a CoC meeting. The fee payable to an insolvency professional representing an individual creditor is borne by that creditor.

For creditors represented under Section 21(6A), the specialised statutory framework for authorised representatives must be read with Section 25A and the current CIRP Regulations.

Section 24(6): Voting According to Assigned Voting Share

Each creditor votes in accordance with the voting share assigned on the basis of the financial debt owed to that creditor, subject to the eligibility and representation provisions of the Code.

Section 24(7): Resolution Professional Determines Voting Share

The resolution professional determines the voting share assigned to each creditor in the manner specified by the Board. The concept of voting share is defined in Section 5(28) and is central to determining whether the statutory threshold for a particular CoC decision has been achieved.

Voting thresholds are decision-specific. The general rule under Section 21(8) is not less than 51 percent voting share unless the Code provides otherwise, while important decisions under provisions such as Sections 12, 22, 27, 28 and 30 may carry their own statutory thresholds.

Section 24(8): Manner of Conducting CoC Meetings

CoC meetings must be conducted in the manner specified by the Board. The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 contain the detailed procedural framework concerning meetings, notice, agenda, participation through video conferencing or other audio and visual means, quorum, voting and minutes.

Because these regulations are amended periodically, the current consolidated CIRP Regulations should be checked for live proceedings.

Section 24 and the 2026 Liquidation Framework

The 2026 amendment expanded the CoC's role beyond CIRP in specified liquidation cases. Under the amended Section 21, where the statutory conditions apply, the CoC supervises the liquidation process and Sections 21 and 24 apply to liquidation as the context requires. The Board may also specify other classes of creditors who may attend CoC meetings during liquidation without voting rights.

Definitions Relevant to Section 24

Provision	Term	Meaning
Section 3(8)	Corporate debtor	A corporate person who owes a debt to any person.
Section 5(7)	Financial creditor	A person to whom a financial debt is owed and includes a person to whom that debt has been legally assigned or transferred.
Section 5(20)	Operational creditor	A person to whom an operational debt is owed and includes a person to whom that debt has been legally assigned or transferred.
Section 5(27)	Resolution professional	An insolvency professional appointed to conduct CIRP and includes an interim resolution professional.
Section 5(28)	Voting share	The share of voting rights of a single financial creditor in the CoC, calculated in accordance with the financial debt owed to eligible voting members under the Code.

Section 24 in the CoC Framework

Provision	Connection
Section 21	Constitution, composition and voting framework of the CoC.
Section 22	First CoC meeting and appointment of the resolution professional.
Section 23	RP conducts CIRP and manages the corporate debtor's operations.
Section 24	Meetings, notice, attendance, representation and voting share.
Section 25	Duties of the resolution professional.
Section 27	Replacement of the resolution professional by the CoC.
Section 28	Actions requiring prior CoC approval.
Section 30	CoC consideration and approval of resolution plans.

Official Legal Resources

For the current Code and procedural rules, refer to the India Code portal, IBBI Legal Framework, IBBI Acts, IBBI Regulations, IBBI Notifications and IBBI Orders.

Legal information: For a live CoC meeting, Section 24 should be read with Sections 21 and 25A and the latest CIRP Regulations governing notice, quorum, electronic participation, voting and minutes.