XenZee Ltd. was undergoing insolvency proceedings under the Corporate Insolvency Resolution Process (CIRP), and Raveendra, the appointed Resolution Professional (RP), was overseeing the entire process. Raveendra, known f

Regulation 19 of IBBI(CIRP) Regulations, 2016 provides for timeline and sending of notice of meeting of CoC as follows: Subject to this Regulation, a meeting of the committee shall be called by giving not less than five days' notice in writing to every participant, at the address it has provided to the interim resolution professional or the resolution professional, as the case may be, and such notice may be sent by hand delivery, or by post but in any event, be served on every participant by electronic means in accordance with Regulation 20. The committee may reduce the notice period from five days to such other period of not less than twenty-four hours, as it deems fit: Regulation 20 of Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 deals with Service of notice by electronic means. It states that: A notice sent through electronic mode is valid subject to fulfilment of following conditions: A notice by electronic means may be sent to the participants through e-mail as a text or as an attachment to email or as a notification providing electronic link or Uniform Resources Locator for accessing such notice. The subject line in e-mail shall state the name of corporate debtor, the place, if any, the time and the date on which the meeting is scheduled. If notice is sent in the form of a non-editable attachment to an e-mail, such attachment shall be in the Portable document format or in a non-editable format together with a 'link or instructions' for recipient for downloading relevant version of the software. When notice or notifications of availability of notice are sent by an e-mail, the resolution professional shall ensure that it uses a system which produces confirmation of the total number of recipients e-mailed and a record of each recipient to whom the notice has been sent and copy of such record and any notices of any failed transmissions and subsequent re-sending shall be retained as "proof of sending". The obligation of the resolution professional shall be satisfied when he transmits the email and he shall not be held responsible for a failure in transmission beyond its control. The notice made available on the electronic link or Uniform Resource Locator shall be readable, and the recipient should be able to obtain and retain copies and the resolution professional shall give the complete Uniform Resource Locator or address of the website and full details of how to access the document or information. If a creditor, other than a member of the committee, fails to provide or update the relevant e-mail address to the resolution professional, the non-receipt of such notice by such participant of any meeting shall not invalidate the decisions taken at such meeting. Thus, meeting called through notice sent by electronic mode is valid, but above notice is not valid because notice was sent through editable mode instead of non-editable mode and also it requires 7 days' notice instead of 5 days, But COC have power to reduce the notice from seven days to such other periods he deemed fit but not less than 24 hours.