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2019 (1) TMI 1506 - Tri - Insolvency and BankruptcyProcedure for determining voting share for passing Resolutions in the CoC that comprise multiple class of Financial Creditor during the CIRP - whether the various threshold voting share fixed for the decision of the COC under various sections of the I & B Code needs to be followed literally or whether they are only directory, and if so, what procedure has to be followed in determining the voting percentage among the COC to pass a particular resolution? - Difference of opinion. Held that:- The case shall be referred by the President for hearing by one or more of the other Members of the Tribunal u/s 419(5) of the Companies Act, 2013 read with rule 60 of NCLT Rules.
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