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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Insolvency Code Section 10 amended: Corporate applicants must submit detailed info and ensure no pending disciplinary actions.</h1> Section 10 of the Insolvency and Bankruptcy Code has been amended to require corporate applicants to submit specific information with their applications. This includes details of their books of account, documents for a specified period, information about the proposed interim resolution professional, and a resolution approved by shareholders or partners. Additionally, the amendment clarifies that applications will be considered complete only if no disciplinary proceedings are pending against the proposed resolution professional. Conversely, applications will be deemed incomplete if any disciplinary proceedings are pending against the proposed professional.
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