Insolvency Resolution of Corporate Persons

What is tie breaker formula?

A tie-breaker is an extra question or round that decides the winner of a competition or game when two or more people have the same score at the end. In CIRP, The resolution plan, which receives the highest votes, but not less than sixty-six percent of voting share, shall be considered as approved. Where two or more resolution plans receive equal votes (not less than 66%), then the CoC may approve any one of them using the tie-breaker formula which shall be announced before such voting.

Answer given by Shubhamm Sir at 13-Feb-2023 05:25 PM