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Home Acts & Rules Insolvency and Bankruptcy Act Insolvency and Bankruptcy Code, 2016 Chapters List Chapter III-A (of Part II) PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS This
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Section 54F - Duties and powers of resolution professional during prepackaged insolvency resolution process - Insolvency and Bankruptcy Code, 2016

Extract

..... arding their claims as confirmed under clause (a), in such manner as may be specified; (c) maintain an updated list of claims, in such manner as may be specified; (d) monitor management of the affairs of the corporate debtor; (e) inform the committee of creditors in the event of breach of any of the obligations of the Board of Directors or partners, as the case may be, of the corporate debtor, under the provisions of this Chapter and the rules and regulations made thereunder; (f) constitute the .....

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Section 54F - Duties and powers of resolution professional during prepackaged insolvency resolution process - Insolvency and Bankruptcy Code, 2016

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..... oard of Directors and committee of directors, or partners, as the case may be, of the corporate debtor; (e) appoint accountants, legal or other professionals in such manner as may be specified; (f) collect all information relating to the assets, finances and operations of the corporate debtor for determining the financial position of the corporate debtor and the existence of any transactions that may be within the scope of provisions relating to avoidance of transactions under Chapter III or fra .....

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Section 54F - Duties and powers of resolution professional during prepackaged insolvency resolution process - Insolvency and Bankruptcy Code, 2016

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..... red by him to perform his duties and exercise his powers, and for such purposes, the provisions of sub-sections (2) and (3) of section 19 shall, mutatis mutandis apply, in relation to the proceedings under this Chapter. (6) The fees of the resolution professional and any expenses incurred by him for conducting the prepackaged insolvency resolution process shall be determined in such manner as may be specified: Provided that the committee of creditors may impose limits and conditions on such fees .....

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Section 54F - Duties and powers of resolution professional during prepackaged insolvency resolution process - Insolvency and Bankruptcy Code, 2016

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