Roles and responsibilities of the facilitator

The roles and responsibilities of the facilitator(s) shall include the following:- 80 Inserted by Notification No. IBBI/2024-25/GN/REG122, dated 03rd February, 2025 (w.e.f. 03-02-2025).

(a) facilitating communication between the authorised representative and the creditors of the sub-class; (b) attending the meetings of the committee, as observers, to facilitate communication between creditors of the respective sub-class; (c) providing information and clarifications to the creditors in a sub-class about the insolvency resolution process, as per advice of the authorised representative; and (d) any other tasks assigned by the committee to improve representation and communication.] 81[16E. Assistance to committee where creditors other than scheduled banks or public financial institutions hold significant voting share. Where creditors, other than a scheduled bank or a public financial institution as defined in clause (72) of section 2 of the Companies Act, 2013 (18 of 2013), hold more than sixty-six per cent of the voting share in the committee, the resolution professional shall— (a) invite the five largest unrelated operational creditors, which shall include the three largest authorities to whom statutory dues are owed, by value of admitted claims, to attend the meetings of the committee as observers with no voting rights; and (b) record their observations, if any, in the minutes of the meetings of the committee.]