ABC Construction Ltd. has been involved in construction of residential apartments. Two years ago, the company accepted ₹500 Crores from 2000 individuals with a promise to deliver apartments of various sizes in a resident

According to Section 21 (6A) of the Insolvency and Bankruptcy Code, 2016, where a financial debt is owed to a class of creditors, the interim resolution professional shall make an application to the Adjudicating Authority along with the list of all the financial creditors, containing the name of an insolvency professional, other than the interim resolution professional, to act as their authorized representative who shall be appointed by the Adjudicating Authority prior to the first meeting of the committee of creditors. Hence for this purpose the interim resolution professional would first get the name of the authorized representative selected from the allottees/depositors. The authorized representative shall attend the meetings of Committee of Creditors and vote on behalf of each allottees to the extent of his voting share. Hence, only the authorized representative as appointed through this process can attend the Committee of Creditors meeting to represent the interest of the allottees/depositors.