IBC 108 — Conduct of meeting of creditors

Insolvency & Bankruptcy Code, 2016

Statutory text

(1)  The  meeting  of  the  creditors  shall  be  conducted  in accordance with the provisions of this section and sections 109,110 and 111.
(2)  In  the  meeting  of  the  creditors,  the  creditors  may  decide  to  approve,  modify  or  reject  the repayment plan.
(3)  The  resolution  professional  shall  ensure  that  if  modifications  are  suggested by  the  creditors, consent of the debtor shall be obtained for each modification.
(4) The  resolution professional may  for a  sufficient cause  adjourn the  meeting of the  creditors  for a period of not more than seven days at a time.

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