Section 7 - Amendment of section 10 - Insolvency and Bankruptcy Code (Second Amendment) Act, 2018

Amendment of section 10 7 . In section 10 of the principal Act, - (a) for sub-section (3), the following sub-section shall be substituted, namely:- (3) The corporate applicant shall, along with the application, furnish- (a) the information relating to its books of account and such other documents for such period as may be specified; (b) the information relating to the resolution professional proposed to be appointed as an interim resolution professional; and (c) the special resolution passed by shareholders of the corporate debtor or the resolution passed by at least three-fourth of the total number of partners of the corporate debtor, as the case may be, approving filing of the application. ; (b) in sub-section (4),- (i) in clause (a), after the words if it is complete , the words and no disciplinary proceeding is pending against the proposed resolution professional shall be inserted; (ii) in clause (b), after the words if it is incomplete , the words or any disciplinary proceeding is pending against the proposed resolution professional shall be inserted.