Resolution professional continuity required after CIRP expiry when a resolution plan is submitted, until the adjudicating authority issues its order. A proviso requires the resolution professional to continue managing operations of the corporate debtor after expiry of the corporate insolvency resolution process period when a resolution plan has been submitted, and to do so until the Adjudicating Authority passes an order under section 31, thereby clarifying transitional management responsibilities and preserving operational continuity pending the authority's decision.
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.
Resolution professional continuity required after CIRP expiry when a resolution plan is submitted, until the adjudicating authority issues its order.
A proviso requires the resolution professional to continue managing operations of the corporate debtor after expiry of the corporate insolvency resolution process period when a resolution plan has been submitted, and to do so until the Adjudicating Authority passes an order under section 31, thereby clarifying transitional management responsibilities and preserving operational continuity pending the authority's decision.
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