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of <h1>Creditors Must Notify Resolution Professional of Debt Assignment Within 7 Days During Insolvency Process</h1> During the corporate insolvency resolution process, if a creditor assigns or transfers their debt to another party, both involved parties must inform the interim or resolution professional of the assignment terms and the assignee's identity within seven days. The resolution professional is then required to notify all participants and the Adjudicating Authority of any changes in the committee composition within two days of the change. This regulation ensures transparency and timely updates during the insolvency proceedings.
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