CONDUCT OF CORPORATE INSOLVENCY RESOLUTION PROCESSInsolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
CONDUCT OF CORPORATE INSOLVENCY RESOLUTION PROCESSInsolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
Compromise or arrangement: committee must assess and resolution professional must report recommendation when liquidation is considered. When the committee decides to liquidate under section 33 it must examine whether to pursue a compromise or arrangement, and the resolution professional ... Summary
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Compromise or arrangement: committee must assess and resolution professional must report recommendation when liquidation is considered.
When the committee decides to liquidate under section 33 it must examine whether to pursue a compromise or arrangement, and the resolution professional must submit the committee's recommendation to the Adjudicating Authority when filing the liquidation application; if such a recommendation is made, the resolution professional and the committee must continue to explore the possibility while the application is pending.
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