TMI Blog2018 (10) TMI 197X X X X Extracts X X X X X X X X Extracts X X X X ..... ppoint 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 appo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on under section 60(5) of the Insolvency Bankruptcy Code, (in short, I B Code) 2016 is filed by one Mr. Pankaj Agarwal against IRP, Mr. P.K. Sen for directing the 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. 2. He stated that he has submitted his claim to IRP on the basis of power of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by this Authority vide order dated 03.07.2018. One Mr. P.K. Sen is appointed as IRP. He made public announcement of CIRP of the Corporate Debtor. In response thereto, the applicant filed claims of 86 debenture holders on the basis of power of attorney executed by them in his favour. It appears that IRP did not entertain his request. Hence, he has filed this application. 5. Amended provisions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inted by the Adjudicating Authority prior to the first meeting of the committee of creditors; (c) is represented by a guardian, executor or administrator, such person shall act as authorised representative on behalf of such financial creditors, and such authorised representative under clause (a) or clause (b) or clause (c) shall attend the meetings of the committee of creditors, and vote on b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the provisions of section 57 of the Companies Act, 2013. 7. With the above observations, this application in IA(IB) No.724/KB/2018 stands disposed off. Registry is hereby directed to communicate the order to the Applicant, Corporate Debtor and to the IRP/RP. Let the certified copy of the order be issued upon compliance with requisite formalities. - - TaxTMI - TMITax - Insolvency & ..... X X X X Extracts X X X X X X X X Extracts X X X X
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