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of <h1>Resolution Professional Must Assess Transactions Under Sections 43, 45, 50, 66 Within 75 Days Per Regulation 35A</h1> Regulation 35A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, mandates that the resolution professional must assess whether a corporate debtor has engaged in transactions under sections 43, 45, 50, or 66 by the seventy-fifth day of the insolvency commencement. If such transactions are identified, a determination must be made by the one hundred and fifteenth day, followed by an application to the Adjudicating Authority by the one hundred and thirtieth day for appropriate relief. Creditors must provide relevant audit extracts to assist the resolution professional.
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