18(5) – In regulation 18, after sub-regulation (4), the following sub-regulation shall be inserted, namely –

“(5) The committee may direct the resolution professional to invite the providers of interim finance to attend as observers without voting rights, such meeting(s) of the committee, as the committee may decide.”

36A: In regulation 36A, after sub-regulation (1), the following sub-regulation shall be inserted, namely: –

 “(1A) The resolution professional may, with the approval of the committee, invite expression of interest for submission of resolution plans for the corporate debtor as a whole, or for sale of one or more of assets of the corporate debtor, or for both.”

36B: In regulation 36B, sub-regulation (6A) shall be omitted.

38: In regulation 38, in clause(b) of sub-regulation (1) – the word and mark “plan.”, the word and mark “plan:” shall be substituted. And after clause (b), the following proviso shall be inserted, namely:-

 “Provided that where a resolution plan provides for payment in stages, the financial creditors who did not vote in favour of the resolution plan shall be paid at least pro rata and in priority over financial creditors who voted in favour of the plan, in each stage.”

39: In regulation 39-

(I) In sub-regulation (2), the words “which comply with the requirements of the Code and regulations made thereunder”, shall be omitted.

(II) In sub-regulation (2), after the words “along with the details of”, the words “non-compliant plans and”, shall be inserted.

(III) In sub-regulation (3), in clause (a), after the words “under sub-regulation (2)”, the marks and words “, which comply with the requirements of the Code and regulations made thereunder,”, shall be inserted.