Quarterly progress reports by bankruptcy trustee must cover asset realisation, fees, litigation, accounts, and remain confidential.

The bankruptcy trustee must submit quarterly progress reports to the Adjudicating Authority and the committee within fifteen days after each quarter, and a copy must be sent to the bankrupt. The report must include appointments of professionals, progress in the bankruptcy process, asset realisation details, fees and expenses, litigation status, disclaimer and transaction developments, and receipts and payments accounts. The fourth-quarter report must enclose audited accounts, and the reports remain confidential unless access is permitted by the Adjudicating Authority.

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