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Home Acts & Rules Insolvency and Bankruptcy Act Insolvency and Bankruptcy Code, 2016 Chapters List Chapter II (of Part II) CORPORATE INSOLVENCY RESOLUTION PROCESS This
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Section 17 - Management of affairs of corporate debtor by interim resolution professional. - Insolvency and Bankruptcy Code, 2016

Extract

..... Management of affairs of corporate debtor by interim resolution professional. 17. (1) From the date of appointment of the interim resolution professional,- (a) the management of the affairs of the corporate debtor shall vest in the interim resolution professional; (b) the powers of the board of directors or the partners of the corporate debtor, as the case may be, shall stand suspended and be exercised by the interim resolution professional; (c) the officers and managers of the corporate debtor .....

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Section 17 - Management of affairs of corporate debtor by interim resolution professional. - Insolvency and Bankruptcy Code, 2016

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..... of account, records and other relevant documents of corporate debtor available with government authorities, statutory auditors, accountants and such other persons as 1[may be specified; and] . 2[(e) be responsible for complying with the requirements under any law for the time being in force on behalf of the corporate debtor.] ******* Notes ** Come into the force w.e.f. 01-12-2016 [F. N. 30/7/2016-Insolvency] S.O. 3594(E) dated 30-11-2016 1. Substituted vide Insolvency and Bankruptcy Code (Second .....

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Section 17 - Management of affairs of corporate debtor by interim resolution professional. - Insolvency and Bankruptcy Code, 2016

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