Preparation of information memorandum [ Section 29 ] - Insolvency Resolution And Liquidation For Corporate Persons - IBC

Preparation of information memorandum As per Section 29 of the IBC,2016 , the resolution professional shall provide all the access of the information memorandum to the resolution applicant and furnish all the relevant information in physical and electronic form. [ Sub section (1) ] The resolution professional shall provide to the resolution applicant access to all relevant information in physical and electronic form, provided such resolution applicant undertakes- (a) They will comply with the provisions of the law for the time being in force relating to the confidentiality and Insider Trading; (b) They will protect any Intellectual property of the corporate debtor it may have access to; and (c) They will not to share the relevant information to the third party . [ sub- section (2) ] For the purposes of this section, relevant information means the information required by the resolution applicant to make the resolution plan for the corporate debtor, which shall include the financial position of the corporate debtor, all information related to disputes by or against the corporate debtor and any other matter pertaining to the corporate debtor as may be specified.