The question (15 marks)
Explain the constitution, composition and powers of the committee of creditors. (15 marks)
MU Module II, head 2.3.
Plan your answer on paper before you look at the authorities — issue first, then the rule, then apply it to these facts.
It tests Unit 2 · Corporate Insolvency and Liquidation of Bankruptcy Laws.
Authorities you will need
- Section 21 of the Code
- Sections 22, 24 and 28 of the Code
- Sections 27, 30(4), 33(2) and 12A of the Code
- Section 5(24), defining related party
How an answer is marked
A full-marks answer names the issue in one line, states the rule with its section, cites the authority, applies it to these facts and concludes — in that order. The app's model answer for this question is written in exactly that shape, with a checklist to mark your own attempt against.