Chapter II - Corporate Insolvency Resolution Process
Section 24
Section 24: committee of creditors meetings
Section 24 governs the basic conduct of committee-of-creditors meetings. It separates notice and attendance rights from voting rights, and directs the resolution professional to run meetings in the manner specified by IBBI.
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This article is for general information. Refer to the Insolvency and Bankruptcy Code, 2016 official text for the official provisions. If you need professional advice for your situation, contact Bizeneed.
Statutory text
Bare law
(1) The members of the committee of creditors may meet in person or by such other electronic means as may be specified.
(2) All meetings of the committee of creditors shall be conducted by the resolution professional.
(3) The resolution professional shall give notice of each meeting of the committee of creditors to—
(a) members of committee of creditors, including the authorised representatives referred to in sub-sections (6) and (6A) of section 21 and sub-section (5);
(b) members of the suspended Board of Directors or the partners of the corporate persons, as the case may be;
(c) operational creditors or their representatives if the amount of their aggregate dues is not less than ten per cent. of the debt.
(4) The directors, partners and one representative of operational creditors, as referred to in sub-section (3), may attend the meetings of committee of creditors, but shall not have any right to vote in such meetings:
Provided that the absence of any such director, partner or representative of operational creditors, as the case may be, shall not invalidate proceedings of such meeting.
(5) Subject to sub-sections (6), (6A) and (6B) of section 21, any creditor who is a member of the committee of creditors may appoint an insolvency professional other than the resolution professional to represent such creditor in a meeting of the committee of creditors:
Provided that the fees payable to such insolvency professional representing any individual creditor will be borne by such creditor.
(6) Each creditor shall vote in accordance with the voting share assigned to him based on the financial debts owed to such creditor.
(7) The resolution professional shall determine the voting share to be assigned to each creditor in the manner specified by the Board.
(8) The meetings of the committee of creditors shall be conducted in such manner as may be specified.
Introduction
Section 24 itself was not amended by the 2026 IBC Amendment Act. New Section 21(11) applies Sections 21 and 24 to CoC supervision in certain liquidation processes as the context requires. Meeting notice, quorum and voting procedure still require the current IBBI regulations and the specific case record; this page states the Code's section text.
Key takeaways
The resolution professional conducts the meeting
Members may meet in person or by specified electronic means, but the resolution professional conducts every meeting.
Notice reaches more than voting members
The notice list includes committee members and authorised representatives, the suspended board or partners, and qualifying operational creditors or representatives.
Attendance is not a vote
Suspended directors, partners and the operational-creditor representative mentioned in subsection (4) may attend but do not vote under that subsection.
Voting shares follow financial debt
The resolution professional determines each creditor's voting share in the Board-specified manner; each creditor votes in line with its assigned share.
Prepare the notice list
Identify committee members and authorised representatives, suspended directors or partners, and whether operational creditors' aggregate dues meet the ten-per-cent statutory threshold. Serve each meeting notice according to current regulations.
Separate attendees from voters
A right to receive notice or attend does not automatically carry a vote. Record each participant's capacity and the assigned voting share before a decision is put to the committee.
Follow the specified meeting procedure
Use the current IBBI regulations for notice timing, agenda, quorum, electronic attendance and voting mechanics. Preserve the notice, materials, attendance, votes and minutes in the case record.
Practical checklist
Do
- Calculate the operational-creditor notice threshold from the case's debt records.
- Maintain a notice and attendance register for each meeting.
- Record voting-share calculations and follow current IBBI meeting regulations.
Avoid
- Do not infer a voting right merely from attendance or receipt of notice.
- Do not omit the suspended board or partners from notice solely because their management powers are suspended.
Glossary
- Committee of creditors
- The creditor committee constituted under Section 21 for a corporate insolvency resolution process.
- Authorised representative
- A representative for creditors under the specific provisions of Section 21.
- Voting share
- A creditor's assigned proportion of committee voting rights, determined under the Code and applicable IBBI rules.
Frequently asked questions
Can suspended directors attend CoC meetings?
Section 24(3)(b) requires notice to them, and subsection (4) permits attendance but does not give them a vote.
Do operational creditors always receive notice?
Section 24(3)(c) requires notice to operational creditors or their representatives when their aggregate dues are at least ten per cent of the debt.
Who runs the meeting?
The resolution professional conducts all CoC meetings under Section 24(2). Current IBBI regulations specify the procedure.
Need help applying this provision to your situation?
Contact BizeneedLast updated 9 October 2026