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Section 109 - Insolvency and Bankruptcy Code Act, 2016
109. Voting rights in meeting of creditors.-
(1) A creditor shall be entitled to vote at every meeting of the creditors in respect of the repayment plan in accordance with the voting share assigned to him.
(2) The resolution professional shall determine the voting share to be assigned to each creditor in the manner specified by the Board.
(3) A creditor shall not be entitled to vote in respect of a debt for an unliquidated amount.
(4) A creditor shall not be entitled to vote in a meeting of the creditors if he-
(a) is not a creditor mentioned in the list of creditors under section 104; or
(b) is an associate of the debtor.
Related Sections
- Section 23: Resolution professional to conduct corporate insolvency resolution process
- Section 17: Management of affairs of corporate debtor by interim resolution professional
- Section 135: Voting rights of creditors
- Section 77: Punishment for providing false information in application made by corporate debtor
- Section 60: Adjudicating Authority for corporate persons
Related Acts
- National Institutes of Technology, Science Education and Research (Amendment) Act, 2017
- National Capital Territory of Delhi (Recognition of Property Rights of Residents in Unauthorised Colonies) Act, 2019
- Indian Antarctic Act, 2022
- Punjab Municipal Corporation Law (Extension to Chandigarh) Amendment Act, 2017
- Farmers Produce Trade and Commerce (Promotion and Facilitation) Act, 2020
* Only for reference.