IBBI vide Notification IBBI/2024-25/GN/REG116 dated September 24, 2024, amended the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

The amendment inter alia provides that the choice of an insolvency professional to act as an authorized representative by a financial creditor in a class in Form CA shall not be considered if the Form CA is received after the time stipulated in the public announcement.

It further states that till the application for appointment of the authorized representative for a class of creditors is under consideration before the Adjudicating Authority, the Insolvency Professional selected under regulation 16A(1) shall act as an interim representative for such class of creditors, and shall be entitled to attend the meetings of the committee and shall have such rights and duties as that of an authorized representative.

The link for the aforesaid Notification is as follows:
https://egazette.gov.in/(S(vynelqd5ydxowyzbhpyqtywt))/ViewPDF.aspx