Completion of repayment plan triggers notice and a receipts-and-payments report to bound persons and the authority. Within the prescribed post-implementation period the resolution professional must notify persons bound by the repayment plan and the Adjudicating Authority that the repayment plan is fully implemented and must forward a report summarising all receipts and payments and the extent of implementation compared with the plan approved by the creditors' meeting. The resolution professional may apply to the Adjudicating Authority for a short extension of that period.
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.
Completion of repayment plan triggers notice and a receipts-and-payments report to bound persons and the authority.
Within the prescribed post-implementation period the resolution professional must notify persons bound by the repayment plan and the Adjudicating Authority that the repayment plan is fully implemented and must forward a report summarising all receipts and payments and the extent of implementation compared with the plan approved by the creditors' meeting. The resolution professional may apply to the Adjudicating Authority for a short extension of that period.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.