The voting share of the parties in the Committee of Creditors is proportionate to the amount owed to them. The amount owed to individual Homebuyers is significantly less in comparison to the amount owed to other financial creditors such as banks etc which would result in the homebuyers having negligible influence over the actions of the Committee Thus, the voting share of homebuyers must be calculated on a collective level instead of computing their voting shares individually. Further, clarifications are needed regarding computation of voting shares in cases when some homebuyers fail or refuse to vote.
It is also important to note that the benefit of the amendment will be more effective in such cases where the voting share of the homebuyers exceeds 35 Percent.
This is so because a resolution on a major decision will be passed in the Committee of Creditors only if it garners the support of more than 66 percent of the total voting share of the financial creditors. It is widely believed that the relationship of Homebuyers towards developers bears more resemblance to that of an operational creditor rather than a financial creditor. The main reason for not classifying them as operational creditors is that the code refers to the provision of goods and services and does not contemplate immovable property within the ambit of operational debt.
The utilization of funds cannot be considered as an adequate criterion to classify the relationship between the parties as financial since the sellers of goods and services may use the advance money received from customers to finance their business activities.
[Lacuna 01] • Imperfect
The T. Vishwanathan headed Bankruptcy Law Review Committee BLRC excluded the operational creditors from being a part of the committee of creditors because of two reasons. First, the operational creditors were considered as incapable to assess the viability and decide on matters of insolvency of the defaulting entity.
Secondly, the operational creditors were considered as unwilling to assume risks of postponing payments for better future prospects of the entity.
The British Library MS Viewer
However, this amendment will now allow thousands of individuals to be part of the Committee of Creditor irrespective of their ability to assess viability or willingness to negotiate existing terms and conditions of repayment which the BLRC considered important enough to disqualify operational creditors. Taming of a Sex God Virginia Nelson. Lawrence Matthew. Proverbs Wisdom from the Bible Brad Haven. A Christmas Gift Stella Wilkinson.
Are you sure you want to continue? Cancel Accept. There was an error reconnecting. Please try again. There is a session opened in another device. Drifters' Alliance, Book 1. The Complete Exodus Trilogy. Andreas Christensen. Lost Library Collection: Books Kate Baray. The Great Symmetry. James R. Immortal Ops Books Mandy M.
Mission Pack 2. Shadow of Empire. Jay Allan. Society for Paranormals. Vered Ehsani. Cloak Games: Omnibus One. Jason Halstead. Megg Jensen. Alien Sky. Nicholas Erik. Wrath of the Old Gods Box Set 1. John Triptych. The Blade's Memory. Alien Invasion Box Set. Alesha Escobar. The Veil Series Books 1 - 3. Pippa DaCosta. Christina Bauer. The Ghost of Marlow House. Bobbi Holmes. Evangeline Anderson. Mammoth Books presents Merlin's Gun. Alastair Reynolds. The Moth Saga.
Naero's War: Naero's Trial. Once Upon A Curse. Anthea Sharp. Jay Lake. Drifters' Alliance, Book 3.
- Join Kobo & start eReading today.
- La messa non è finita (Italian Edition).
- The Essential Handbook of Ground-Water Sampling.
- 24symbols - Access a world of books.
- Patricio & Kelly // Lacuna Artist Loft Vintage Wedding Chicago.
- Remember our Promise;
Forgotten Ages. Azula Carver. Thomas DePrima. Naero's Fury. George R. Jennifer Blackstream. The Complete Book of Fallen Angels. Rehab is for Witches. Tyffani Clark. The Destroyer Book 2. Michael-Scott Earle. Meg Collett. Naero's War: The High Crusade. Miss Fortune Series Boxset 1. Jana DeLeon.
Desperation - The Island #1
The Absent Gods Trilogy. David Debord. The Star Brotherhood.
Preserving Hope. Alex Albrinck.