Whether under the provisions of the Code, the shareholders are entitled to get copy of resolution plan, copy of minutes of CoC meeting and copy of application for approval of resolution plan? – Malay Mahanti & Ors. Vs. Pinakin Shah& Ors. – NCLT Ahmedabad Bench
The Adjudicating Authority held that under the Code only the members of CoC, suspended board of directors and operational creditors whose aggregate dues are more than ten per cent, of the debt are entitled to participate in CoC meeting and have access to copies of all documents relevant to the matters to be discussed and the issues to be voted upon at the meeting. Further Regulation 24 of CIRP Regulation authorises Resolution Professional to circulate minutes of meeting only to participants. Thus, we find no provision under the Code which entitle shareholders of the Corporate Debtor to have a copy of the minutes of CoC meeting or copy of resolution plan or access to any other confidential document with regard to corporate insolvency resolution process of the Corporate Debtor.
