TMI BlogMeasures for facilitating efficient conduct of the processes by the Insolvency ProfessionalsX X X X Extracts X X X X X X X X Extracts X X X X ..... olvency Professionals All Recognised Insolvency Professional Entities All Registered Insolvency Professional Agencies (By mail to registered email addresses) Dear Madam/ Sir, Subject: Measures for facilitating efficient conduct of the processes by the Insolvency Professionals An Insolvency Professional (IP) assumes different roles and performs various function ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ciples like integrity, independence, impartiality, remuneration and costs, etc. 3. Based on the feedback received from stakeholders and experiences encountered during implementation, it is considered imperative to provide clarity on few areas to facilitate smooth and efficient conduct of the processes. These issues and clarification thereupon have been elaborated in ensuing paragraphs: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 38 of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations) provides for mandatory contents of the resolution plan inter alia including its implementation schedule, management, and control of the business of the CD during its term and adequate means for supervising its implementation. 3.1.4. In several instances, it is observed that the Adjudic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the AA. 3.2. Clarification on compliance regarding billing / invoicing for services availed by IP from professionals 3.2.1. Clause 25C of Code of Conduct specified in First Schedule to IP Regulations stipulates that an IP shall ensure that the IPE or the professional engaged by it raises bills or invoices in their own name towards their fees, and such fees shall be paid to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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