Regulation 27 - Transfer of debt due to creditors - Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017

Transfer of debt due to creditors 27 . (1) In the event a creditor assigns or transfers the debt due to such creditor to any other person during the fast track process period, both parties shall provide the interim resolution professional or the resolution professional, as the case may be, the terms of such assignment or transfer and the identity of the assignee or transferee. (2) The resolution professional shall notify each creditor and the Adjudicating Authority of any resultant change in the committee within two days of such change.