Resolution professional management continues beyond insolvency period until a resolution plan is approved or a liquidator appointed. The amendment mandates that the resolution professional shall continue to manage the operations of the corporate debtor after the expiry of the corporate insolvency resolution process period until the Adjudicating Authority either approves a resolution plan or appoints a liquidator, thereby extending management authority pending final adjudicatory action.
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 management continues beyond insolvency period until a resolution plan is approved or a liquidator appointed.
The amendment mandates that the resolution professional shall continue to manage the operations of the corporate debtor after the expiry of the corporate insolvency resolution process period until the Adjudicating Authority either approves a resolution plan or appoints a liquidator, thereby extending management authority pending final adjudicatory action.
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