Completion of repayment plan (1) The resolution professional shall within fourteen days of the completion of the repayment plan, forward to the persons who are bound by the repayment plan under section 115 and the Adjudicating Authority, the following documents, namely – (a) a notice that the repayment plan has been fully implemented; and (b) a copy of a report by the resolution professional summarising all receipts

Implementation and supervision of repayment plan (1) The resolution professional appointed under section 97 or under section 98 shall supervise the implementation of the repayment plan. (2) The resolution professional may apply to the Adjudicating Authority for directions, if necessary, in relation to any particular matter arising under the repayment plan. (3) The Adjudicating Authority may issue directions to the resolution professional on the basis of an application under sub-section (2).

Effect of order of Adjudicating Authority on repayment plan (1) Where the Adjudicating Authority has approved the repayment plan under section 114, the repayment plan shall – (a) take effect as if proposed by the debtor in the meeting; and (b) be binding on creditors mentioned in the repayment plan and the debtor. (2) Where the Adjudicating Authority rejects the repayment plan under section 114, the debtor and the

Notice of decisions taken at meeting of creditors The resolution professional shall provide a copy of the report of the meeting of creditors prepared under section 99 to – (a) the debtor; ( b ) the creditors, including those who were not present at the meeting; and (c) the Adjudicating Authority. Practice area’s of B K Goyal & Co LLP

Report of meeting of creditors on repayment plan (1) The resolution professional shall prepare a report of the meeting of the creditors on repayment plan. (2) The report under sub-section (1) shall contain – (a) whether the repayment plan was approved or rejected and if approved, the list the modifications, if any; (b) the resolutions which were proposed at the

Approval of repayment plan by creditors The repayment plan or any modification to the repayment plan shall be approved by a majority of more than three-fourth in value of the creditors present in person or by proxy and voting on the resolution in a meeting of the creditors. Approval of repayment plan by creditors. Practice area’s of B K Goyal & Co LLP

Rights of secured creditors in relation to repayment plan (1) Secured creditors shall be entitled to participate and vote in the meetings of the creditors. (2) A secured creditor participating in the meetings of the creditors and voting in relation to the repayment plan shall forfeit his right to enforce the security during the period of the repayment plan in accordance with the

Voting rights in meeting of creditors (1) A creditor shall be entitled to vote at every meeting of the creditors in respect of the repayment plan in accordance with voting share assigned to him. (2) The resolution professional shall determine voting share to be assigned to each creditor in the manners specified by the Board. (3) A creditor shall not be entitled to vote in respect of a debt for an unliquidated amount. (4)