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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 54J - Vesting management of corporate debtor with resolution professional - Insolvency and Bankruptcy Code, 2016

Extract

..... 1[Vesting management of corporate debtor with resolution professional. 54J. (1) Where the committee of creditors, at any time during the pre-packaged insolvency resolution process period, by a vote of not less than sixty-six per cent. of the voting shares, resolves to vest the management of the corporate debtor with the resolution professional, the resolution professional shall make an application for this purpose to the Adjudicating Authority, in such form and manner as may be specified. (2) On .....

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Section 54J - Vesting management of corporate debtor with resolution professional - Insolvency and Bankruptcy Code, 2016

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