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of <h1>Debtor Must Formulate Repayment Plan Under Section 105 of Insolvency and Bankruptcy Code 2016 with Resolution Professional</h1> Under Section 105 of the Insolvency and Bankruptcy Code, 2016, a debtor must create a repayment plan in consultation with a resolution professional to propose debt restructuring to creditors. The plan may empower the resolution professional to manage the debtor's business, realize assets, or handle funds. It must justify its formulation, provide reasons for creditor agreement, and include payment provisions for the resolution professional's fee, along with other specified matters. This section became effective on December 1, 2019.
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