Compliance responsibility placed on resolution professional to meet debtor's legal obligations during the insolvency process under law. The amendment inserts a new clause making the resolution professional responsible for complying with the requirements under any law for the time being in force on behalf of the corporate debtor, thereby imposing on the resolution professional the duty to discharge the corporate debtor's statutory and regulatory obligations during the insolvency process.
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.
Compliance responsibility placed on resolution professional to meet debtor's legal obligations during the insolvency process under law.
The amendment inserts a new clause making the resolution professional responsible for complying with the requirements under any law for the time being in force on behalf of the corporate debtor, thereby imposing on the resolution professional the duty to discharge the corporate debtor's statutory and regulatory obligations during the insolvency process.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.