Section 16(3) in Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
(3)A member of the committee formed under this Regulation shall have voting rights in proportion of the debt due to such creditor or debt represented by such representative, as the case may be, to the total debt.Explanation - For the purposes of this sub-regulation, `total debt' is the sum of-(a)the amount of debt due to the creditors listed in sub-regulation 2(a);(b)the amount of the aggregate debt due to workmen under sub-regulation 2(b); and(c)the amount of the aggregate debt due to employees under sub-regulation 2(c).
