Section 25(7) in Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017
(7)The resolution professional shall within twenty four hours of the conclusion of the voting, or forty eight hours of the conclusion of the meeting if no electronic vote is required to be sought under this regulation, circulate by electronic means the decision of the committee on agenda items along with the names of the members of the committee who voted for or against the decision, or abstained from voting.Explanation. - For the purposes of these Regulations -(a)the expressions "voting by electronic means" and its grammatical variant or "electronic voting system" means a "secured system" based process of display of electronic ballots, recording of votes of the members of the committee and the number of votes polled in favour or against, such that the voting exercised by way of electronic means gets registered and counted in an electronic registry in a centralized server with adequate cyber security;(b)the expression "secured system" means computer hardware, software, and procedure that -(i)are reasonably secure from unauthorized access and misuse;(ii)provide a reasonable level of reliability and correct operation;(iii)are reasonably suited to perform the intended functions; and(iv)adhere to generally accepted security procedures.
