3. CIRP - Committees

Operational Creditors

Voting Rights ~ Section 24(4) read with 24(3)

Case 1. There is only one OC claim and its claim is more than 10% of the total claims (All FC claims + All OC claims + claims of Other Creditors) - Such OC will be part of CoC without voting rights.

Case 2. There are 10 OCs and none of the OC have individual claim more than 10% of total claims but they have aggregate claims more than 10% of total claims - One representative will be part of CoC to be decided by OCs themselves.

Case 3.  There is One OC whose claim is individually more than 10% of total claim and there are 9 other OCs - One representative of all OCs taken together will be part of CoC. Individual OC having more than 10% does not matter.

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