Corporate Restructuring, Valuation and Insolvency · Convening and Conduct of Meetings of Committee of Creditors

Meetings of Committee of Creditors under Section 24 IBC

Updated 11 October 2026 · Fact-checked

Section 24 IBC says the resolution professional conducts every CoC meeting and gives notice of it to CoC members, the suspended directors or partners, and operational creditors holding at least 10% of the debt. Directors, partners and one operational creditor representative may attend but cannot vote. Voting follows financial debt share.

Understand Meetings of Committee of Creditors under Section 24

The committee of creditors (CoC) is the body that takes the key commercial decisions in a corporate insolvency resolution process. Section 24 sets out how its meetings run: who calls them, who is told about them, who may sit in, and who votes.

The central rule is that the resolution professional (RP) conducts all meetings. Members may meet in person or by electronic means as specified. The RP is the convenor and the chair of the process, not a voting member.

The RP must give notice of each meeting to three groups. First, the members of the CoC, including the authorised representatives referred to in sections 21(6) and 21(6A) and in sub-section (5) of section 24. Second, the members of the suspended Board of Directors, or the partners of the corporate person. Third, operational creditors or their representatives, if their aggregate dues are not less than ten per cent of the debt.

Notice and voting are different things. The directors, partners and one representative of operational creditors may attend, but they have no right to vote. If any of them is absent, the proceedings of the meeting are not invalidated. Only CoC members vote, each according to the voting share assigned on the financial debt owed to that creditor. The RP determines the voting share in the manner specified by the Board.

A CoC member may appoint an insolvency professional other than the RP to represent that creditor at a meeting, subject to sub-sections (6), (6A) and (6B) of section 21. The fees of that professional are borne by the creditor who appoints him. The number of days of notice and the quorum are not stated in section 24. They come from the manner specified by the Board (the CIRP Regulations), so state them only if you are sure of them, and say that section 24(8) leaves the manner of conduct to what is specified.

Key rules to remember

Mode of meeting: In person or by electronic means as specified (s 24(1)); The mode is not limited to physical meetings.
Who conducts: All CoC meetings are conducted by the resolution professional (s 24(2)); The RP convenes, conducts and gives notice. The RP does not vote.
Who gets notice: CoC members (with authorised representatives) + suspended directors/partners + operational creditors with aggregate dues ≥ 10% of the debt (s 24(3)); The 10% test applies only to operational creditors.
Who may attend without voting: Directors, partners and one operational creditor representative; no vote (s 24(4)); Absence of any of them does not invalidate the meeting.
Representation: A CoC member may appoint an IP other than the RP to represent it; fees borne by that creditor (s 24(5)); Subject to s 21(6), (6A) and (6B).
Voting: Vote = voting share based on financial debt owed to the creditor (s 24(6)); share determined by the RP as specified by the Board (s 24(7)); Operational creditors do not get a vote through this route.
Manner of conduct: Meetings conducted in such manner as may be specified (s 24(8)); Notice period and quorum are in the Board's regulations, not in section 24.

How to solve Meetings of Committee of Creditors under Section 24 questions

Use this method for any question on who may convene, be notified, attend or vote at a CoC meeting.

1Identify the party in the facts: RP, CoC member, suspended director, partner, operational creditor or a representative.
2Start with convening: confirm that the RP conducts the meeting under section 24(2).
3Check notice: is the party in the three groups in section 24(3)? For operational creditors, test whether aggregate dues are at least 10% of the debt.
4Separate attendance from voting: directors, partners and one operational creditor representative may attend but cannot vote under section 24(4).
5Apply voting: a vote exists only for a CoC member, in proportion to financial debt under section 24(6) and (7).
6Check representation and absence: a creditor may send an IP other than the RP at its own cost; absence of a director, partner or representative does not invalidate the meeting.
7For notice period or quorum, say they are as specified by the Board under section 24(8), and do not invent a section 24 number.
8Conclude in one line that answers the exact question asked.

Quickest way: Notice, Attend, Vote filter

When to use it: Use when a short case asks whether a person had a right to notice, to attend or to vote.

Notice: CoC members, suspended directors/partners, operational creditors with at least 10% of the debt.
Attend: the same non-voting outsiders may attend, with only one operational creditor representative.
Vote: only CoC members, by financial debt share.
Validity: absence of an outsider does not void the meeting.
Convenor: always the RP.

Common mistakes in Meetings of Committee of Creditors under Section 24

Saying suspended directors can vote because they get notice.
Students link notice with participation.
Fix: Directors and partners may attend but have no right to vote under section 24(4).
Applying the 10% test to all creditors or to directors.
The threshold is remembered but not its target.
Fix: The 10% aggregate dues test applies only to operational creditors under section 24(3)(c).
Stating that the meeting is invalid if a director did not attend.
Students treat notice as a condition of validity of attendance.
Fix: The proviso to section 24(4) says absence of a director, partner or operational creditor representative does not invalidate the proceedings.
Writing that all operational creditors can attend.
Confusion between notice and attendance.
Fix: Only one representative of operational creditors may attend, and only where the 10% test is met.
Quoting a fixed notice period as part of section 24.
Students search for the days and attach them to the section.
Fix: Section 24 does not state days. Say the manner of conduct is as specified by the Board under section 24(8).
Saying the RP can vote as a convenor.
The RP is central, so students assume a vote.
Fix: The RP conducts the meeting and determines voting shares. Votes belong to creditors by financial debt share.

Worked examples

Example 1

In CIRP of Sundaram Textiles Ltd, the resolution professional invites the suspended directors and an operational creditor representing 4% of the total debt to the CoC meeting, and the directors vote on the resolution plan. Examine.

Show the solution

Provision: under section 24(3)(b), notice goes to suspended directors; under 24(3)(c), operational creditors are notified only if aggregate dues are at least 10% of the debt.
Operational creditor: at 4% it does not meet the threshold, so it has no statutory right to notice or attendance under section 24.
Directors: under section 24(4), they may attend but shall not have any right to vote.
Voting: section 24(6) gives votes only to creditors by financial debt share.

Answer: The directors may attend but their votes are not valid. The operational creditor at 4% had no right to notice under section 24(3)(c). The RP may invite it, but it has no right to attend or vote.

Example 2

The RP of Kaveri Steels Ltd gave notice of a CoC meeting to all required persons. The suspended directors and the operational creditors' representative (holding 12% of the debt) did not attend. A creditor bank was represented by its own insolvency professional. Is the meeting valid, and who bears the professional's fee?

Show the solution

Notice: operational creditors with 12% (at least 10%) and suspended directors were entitled to notice under section 24(3), and it was given.
Absence: the proviso to section 24(4) says that absence of a director, partner or operational creditor representative shall not invalidate the proceedings.
Representation: under section 24(5), a CoC member may appoint an insolvency professional other than the RP, subject to section 21(6), (6A) and (6B).
Fees: the proviso to section 24(5) makes the appointing creditor bear the fees.

Answer: The meeting is valid despite the absences. The bank may be represented by another IP and the bank itself bears that professional's fees.

Exam tips

Draft in three parts: provision, application to the facts, conclusion. Cite section 24 sub-sections as in the text.
Always separate three rights: notice, attendance and voting. Many case questions test only this split.
Do not give a notice period or quorum as part of section 24. Refer to the Board's specified manner and note that section 24(8) delegates it.
Check numbers in the facts: the 10% operational creditor test is a favourite trap.
Mention that meetings may be held by electronic means if the facts involve a virtual meeting.

Practice questions from Convening and Conduct of Meetings of Committee of Creditors

Meetings of Committee of Creditors under Section 24 in other exams

The same ground in other exams, if you are preparing for more than one or want another angle on it.

CMA FinalCommittee of Creditors and Resolution Plan

Meetings of Committee of Creditors under Section 24: frequently asked questions

Who conducts the meeting of the committee of creditors under Section 24?

The resolution professional conducts all meetings of the CoC under section 24(2). The RP also gives notice of each meeting to the persons listed in section 24(3).

Who can attend a CoC meeting under the IBC?

CoC members and their authorised representatives attend. Suspended directors, partners and one representative of operational creditors may attend but cannot vote. The operational creditors' right depends on their aggregate dues being at least ten per cent of the debt.

How many days notice is needed for a CoC meeting?

Section 24 does not state the number of days. Section 24(8) says meetings are conducted in the manner specified, so the notice period is found in the Board's regulations. Check the current regulation before quoting a number.

Can a creditor send someone else to the CoC meeting?

Yes. Under section 24(5), a CoC member may appoint an insolvency professional other than the RP to represent it, subject to section 21(6), (6A) and (6B). That creditor bears the professional's fees.