As per Sub section 3A Authorized representative of under sub-section (6A) of section 21 (i.e authorised representative of deposit holders or debenture holders etc.) vote in accordance with the decision taken by a vote of more than fifty per cent. of the voting share of the financial creditors he represents, who have cast their vote. i.e if more than 50% financial creditors by value accept the proposal. Authorised representative have to vote in favour of proposal in meeting. However this is not applicable in respect of an application under section 12A.in this he shall cast his vote in respect of each financial creditor in accordance with instructions received from each financial creditor, to the extent of his voting share.
by Shubhamm Sir
at 04-Dec-2022 04:08 AM