Section 25 in Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
25. Voting by the committee.
(1)The actions listed in section 28(1) shall be considered in meetings of the committee.(2)Any action other than those listed in section 28(1) requiring approval of the committee may be considered in meetings of the committee.(3)[ The resolution professional shall take a vote of the members of the committee present in the meeting, on any item listed for voting after discussion on the same.] [Substituted by Notification No. IBBI/2018-19/GN/REG031, dated 3.7.2018 (w.e.f 30.11.2016).](4)At the conclusion of a vote at the meeting, the resolution professional shall announce the decision taken on items along with the names of the members of the committee who voted for or against the decision, or abstained from voting.(5)[ The resolution professional shall -(a)circulate the minutes of the meeting by electronic means to all members of the committee and the authorised representative, if any, within forty-eight hours of the conclusion of the meeting; and(b)seek a vote of the members who did not vote at the meeting on the matters listed for voting, by electronic voting system in accordance with regulation 26 where the voting shall be kept open for at least twenty-four hours from the circulation of the minutes.(6)The authorised representative shall circulate the minutes of the meeting received under sub-regulation (5) to creditors in a class and announce the voting window at least twenty-four hours before the window opens for voting instructions and keep the voting window open for at least twelve hours.] [Substituted by Notification No. IBBI/2018-19/GN/REG032, dated 5.10.2018 (w.e.f. 30.11.2016).]
