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of <h1>Understanding Regulation 40A: Key Steps in the Corporate Insolvency Resolution Process and Timelines</h1> Regulation 40A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, outlines a model timeline for the corporate insolvency resolution process (CIRP) assuming a 180-day period. Key activities include the appointment of an Interim Resolution Professional (IRP) at the commencement, public announcement within three days, submission and verification of claims, and the formation of the Committee of Creditors (CoC). The process includes appointing a Resolution Professional (RP), evaluating claims, and submitting a resolution plan for approval by the Adjudicating Authority (AA) within the stipulated timeline.
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