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        IBC

        Section 17 - Management of affairs of corporate debtor by interim resolution professional.

        Insolvency and Bankruptcy Code, 2016
        Chapter II (of Part II)
        CORPORATE INSOLVENCY RESOLUTION PROCESS

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        Interim resolution professional management vests IRP with control, suspending board powers and directing access to corporate records. From appointment, the interim resolution professional vests with management of the corporate debtor, suspending board or partners' powers; officers, managers and financial institutions must report to and follow instructions of the interim resolution professional. The interim resolution professional may execute documents in the corporate debtor's name, act subject to Board restrictions, access electronic records, books of account and other documents from government authorities, auditors and specified persons, and is responsible for complying with legal requirements on behalf of the corporate debtor.
                    Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                    Provisions expressly mentioned in the judgment/order text.

                        Interim resolution professional management vests IRP with control, suspending board powers and directing access to corporate records.

                        From appointment, the interim resolution professional vests with management of the corporate debtor, suspending board or partners' powers; officers, managers and financial institutions must report to and follow instructions of the interim resolution professional. The interim resolution professional may execute documents in the corporate debtor's name, act subject to Board restrictions, access electronic records, books of account and other documents from government authorities, auditors and specified persons, and is responsible for complying with legal requirements on behalf of the corporate debtor.


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