Authorised representatives are the agents/trustees of the creditors/class of creditors they represent and must act in accordance with their instructions. Enumerate the role and duty of the AR (under Section 21(6), Sectio

Section 25A of the Insolvency and Bankruptcy Code, 2016 provides that Authorized Representative (AR) shall have the following roles and duties: Under sub-section (6) or sub-section (6A) of section 21 or sub-section (5) of section 24, the right to participate and vote in meetings of the Committee of Creditors on behalf of the financial creditors he represents in accordance with the prior voting instructions of such financial creditors obtained through physical or electronic means; The duty to circulate the agenda and minutes of the Committee of Creditors meeting to the financial creditors he represents; The duty to not act against the interests of the financial creditors he represents and always act in accordance with their prior instructions; If the authorised representative represents several financial creditors, then he shall cast his vote in respect of each financial creditor in accordance with instructions received from each financial creditor, to the extent of his voting share: If any financial creditor does not give prior instructions through physical or electronic means, the authorised representative shall abstain from voting on behalf of such creditor. (Sub-section 3) Under sub-section (6A) of section 21, cast his vote on behalf of all the financial creditors he represents in accordance with the decision taken by a vote of more than fifty per cent. of the voting share of the financial creditors he represents, who have cast their vote. This duty is applicable notwithstanding anything to the contrary contained in sub-section (3). It is provided that for a vote to be cast in respect of an application under section 12A, the authorised representative shall cast his vote in accordance with the provisions of subsection (3). The duty to file with the Committee of Creditors any voting instructions received by way of physical or electronic means from the financial creditors he represents; The duty to ensure that the appropriate voting instructions of the financial creditors he represents are correctly recorded by the Interim Resolution Professional or Resolution Professional.