Duties of Resolution Professional - Disciplinary Action - ...

Insolvency and Bankruptcy

January 5, 2020

Duties of Resolution Professional - Disciplinary Action - non-disclosure to his IPA - During CIRP, it is the utmost responsibility of an IP to run the company of CD as a going concern and conduct the entire CIRP in a transparent manner without creating additional insolvency resolution process costs.

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Duties of Resolution Professional - Disciplinary Action - ...

Insolvency and Bankruptcy

January 5, 2020

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Disciplinary enquiry / proceedings against Resolution Professional (RP) - when the petitioner ceases to be a Resolution Professional, and starts wearing the cap of a...

Challenge to direction that entire cost be paid by the Applicant/Appellant - Admission of CIRP set aside - Corporate Debtor was NBFC - NCLAT observed that, in a...

CIRP - Calculation of the interest - admission of the claim by the Resolution Professional - The Adjudicating Authority directed to examine the exorbitantly high...

CIRP - Extension of time in the CIRP has to be applied by the Resolution Professional who is the official conducting the CIRP and further when CoC has instructed the...

Misconduct insolvency professional - misleading the stakeholders of the insolvency and bankruptcy - Disciplinary Committee has taken the action against the professional.

Action against Resolution Professional - Section 233 gives protection to a resolution professional from criminal prosecution for acts in good faith, and not where he has...

Conduct of the Resolution Professional (IRP) - prayer to expunge the said observations on the ground, that being adverse, it has the effect of damaging the reputation...

Resolution professional doesn’t require nod of shareholders/members for insolvency resolution

Re-determination of the CIRP - The direction to CoC to redetermine the CIRP cost after approval of the Resolution Plan by the CoC is unsustainable - The audited Report...

Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed...

Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed...

Closure of CIRP - integrity and fairness demanded that the Resolution Professional ought to have facilitated the withdrawal of the CIRP application as was desired by the...

Disciplinary Action against the Resolution Professional (RP) - Incorporation of partnership firm by the name ‘IBBI Insolvency Practitioners LLP’ - issuance of SCN on the...

Suspension of registration of the Resolution Professional (RP) - territorial jurisdiction to entertain the Writ Petition - Pursuant to the order of suspension, the...

Approval of Resolution Plan - actions of the Resolution Professional and the CoC are consistent with the NCLAT order or not - When none of the Resolution Plans was...

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