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 ... Summary
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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