Authorised Representative for Class of Creditor in COC

In the context of insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) 2016, an authorized representative (AR) is appointed to represent a class of creditors in the committee of creditors (CoC) meetings.

The CoC is a committee consisting of financial creditors of the debtor and is responsible for taking decisions related to the resolution of the debtor’s insolvency. The CoC comprises of different classes of creditors such as secured creditors, unsecured creditors, operational creditors, etc. If the CoC includes multiple classes of creditors, an AR may be appointed to represent each class of creditors.

The AR is appointed by the Adjudicating Authority (AA) and is responsible for representing the interests of the creditors in their class. The AR acts as a mediator between the CoC and the creditors they represent and ensures that the interests of the creditors are adequately represented in the decision-making process.

The key functions of an AR are as follows:

1. Attend CoC meetings: The AR attends all CoC meetings on behalf of the creditors they represent and participates in the decision-making process.
2. Provide information: The AR provides information to the creditors they represent about the status of the insolvency proceedings, the CoC meetings, and the decisions taken by the CoC.
3. Vote on behalf of the creditors: The AR votes on behalf of the creditors they represent in the CoC meetings, based on the instructions received from the creditors.
4. Protect the interests of the creditors: The AR protects the interests of the creditors they represent and ensures that their rights are safeguarded during the insolvency process.

In summary, an authorized representative (AR) is appointed to represent a class of creditors in the committee of creditors (CoC) meetings. The AR attends CoC meetings, provides information to the creditors, votes on behalf of the creditors, and protects the interests of the creditors they represent.

MVK IPE LLP is registered to act as an IP and thus to be appointed as Authorised representative for the specified class of creditors.