Management of affairs of the corporate debtor during the pre-packaged insolvency resolution process [ Section 54H ]

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Regulation 50 provides for management of affairs of the corporate debtor during the pre-packaged insolvency resolution process period,- (a) the management of the affairs of the corporate debtor shall continue to vest in the Board of Directors or the partners of the corporate debtor, subject to such conditions as may be specified; (b) the Board of Directors or the pa .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... f the corporate debtor or in a fraudulent manner. (2) The corporate debtor shall not undertake any of the following actions without obtaining prior approval of the committee , namely:- (a) transaction above a threshold as decided by the committee; and (b) any other matter as decided by the committee and not covered under section 28 . Monthly Reporting [ Regulation 50 (3) .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... debtor; (d) call for information related to compliances applicable to the corporate debtor and its status; (e) ask for details related to litigation initiated by or against corporate debtor; and (f) ask details for ascertaining the conduct of corporate debtor during the process. - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management In .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X