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Section 111 - Insolvency and Bankruptcy Code Act, 2016
111. Approval of repayment plan by creditors.-
The repayment plan or any modification to the repayment plan shall be approved by a majority of more than three-fourth in value of the creditors present in person or by proxy and voting on the resolution in a meeting of the creditors.
Related Sections
- Section 23: Resolution professional to conduct corporate insolvency resolution process
- Section 99: Submission of report by resolution professional
- Section 197: Constitution of advisory committee, executive committee or other committee
- Section 91: Revocation of order admitting application
- Section 141: Restrictions on bankrupt
Related Acts
* Only for reference.