9911796707
TMI BlogDuties and powers of resolution professional during prepackaged insolvency resolution processX X X X Extracts X X X X X X X X Extracts X X X X ..... e pre-packaged insolvency resolution process of a corporate debtor during the pre-packaged insolvency resolution process period. (2) The resolution professional shall perform the following duties, namely:- (a) confirm the list of claims submitted by the corporate debtor under section 54G, in such manner as may be specified; (b) inform creditors regarding their claims as confirmed under cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Chapter III or fraudulent or wrongful trading under Chapter VI, if any; and (i) such other duties as may be specified. (3) The resolution professional shall exercise the following powers, namely:- (a) access all books of accounts, records and information available with the corporate debtor; (b) access the electronic records of the corporate debtor from an information utility having f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... audulent or wrongful trading under Chapter VI, including information relating to - (i) business operations for the previous two years from the date of pre-packaged insolvency commencement date; (ii) financial and operational payments for the previous two years from the date of prepackaged insolvency commencement date; (iii) list of assets and liabilities as on the initiation date; and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on to the proceedings under this Chapter. (6) The fees of the resolution professional and any expenses incurred by him for conducting the prepackaged insolvency resolution process shall be determined in such manner as may be specified: Provided that the committee of creditors may impose limits and conditions on such fees and expenses: Provided further that the fees and expenses for the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
