New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    The committee of creditors, may, in the first meeting, ________________________, either resolve to appoint the interim resolution professional as a resolution professional or to replace the interim resolution professional by another resolution professional.

    A By the vote of the members present in the meeting Correct Answer Incorrect Answer
    B By a majority vote of not less than sixty-six per cent of the voting share of the financial creditors Correct Answer Incorrect Answer
    C By a majority vote of not less than seventy-five per cent of the voting share of the financial creditors Correct Answer Incorrect Answer
    D By a majority vote of not less than seventy-five per cent of the voting share of the financial creditors as well as the operational creditors Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Section 22-Appointment of resolution professional- (2) The committee of creditors, may, in the first meeting, by a majority vote of not less than sixty-six per cent. of the voting share of the financial creditors, either resolve to appoint the interim resolution professional as a resolution professional or to replace the interim resolution professional by another resolution professional.

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