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2018 (10) TMI 197 - Tri - Insolvency and BankruptcyClaim to IRP on the basis of power of attorney - IRP to accept the claim of the applicant's claim as one of the members of the CoC as a representative of 86 debenture holders of the Corporate Debtor - Held that:- The terms of the debenture holders i.e. financial creditors are to appoint their agent to represent them in CoC. In this case, original trustees of a trust created by the Corporate Debtor to manage the affairs of debenture holders are debarred/restrained by the SEBI from acting as an Intermediary of the trust that was created by the Corporate Debtor. Now each debenture holder has to submit his claim to the IRP. Above provision allows the class of creditors to appoint their representative to attend the CoC meetings. IRP has to allow the applicant to act as representative of the creditors. However, it is further made clear that while raising claim of each of the debenture holder, IRP/RP has to keep in his mind the provisions of section 57 of the Companies Act, 2013.
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