[Checklist] for IPs to Comply with Obligations of Committee of Creditors Meetings
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- By Taxmann
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- Last Updated on 3 July, 2023
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The meetings of the Committee of Creditors (CoC) are crucial in the insolvency resolution process. These meetings are important for stakeholders to make decisions and collaborate effectively. As an Insolvency Professional, it is vital to follow the requirements and obligations related to these meetings to ensure smooth proceedings and effective decision-making. This checklist serves as a comprehensive guide for Insolvency Professionals, helping them comply with the necessary requirements and obligations when organizing and conducting CoC meetings. By using this checklist, Insolvency Professionals can navigate through agenda documents, determination of quorum, participation through video conferencing, voting by the committee and authorised representative, and voting through electronic means, ultimately contributing to the overall success of the insolvency resolution process.
I. Does the agenda document for the Committee of Creditors (CoC) meeting include a list of actions to be addressed during the meeting
II. Does the agenda document for the CoC meeting commence with the call to order of the meeting
III. Does the agenda document for the CoC meeting conclude with a Vote of thanks
IV. Are the actions listed in the agenda document for the CoC meeting specifically related to the items to be discussed and decided upon during the meeting
V. Does the agenda include a Notice of the meeting, specifying the date, time, and place of the Committee of Creditors (CoC) meeting
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