Duties of resolution professional require specified reporting and filings, and fees form part of pre-pack process costs upon admission. Duties commence on approval under the pre-pack gateway and include preparing a specified report confirming debtor eligibility and base resolution plan conformity, filing reports and documents with the Board, and performing other prescribed duties. Those duties cease if the debtor fails to file within the declared period or if the application is admitted or rejected by the Adjudicating Authority. Fees for these duties are determined and borne as prescribed and, upon admission of the application, form part of the pre-packaged insolvency resolution process costs.
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Provisions expressly mentioned in the judgment/order text.
Duties of resolution professional require specified reporting and filings, and fees form part of pre-pack process costs upon admission.
Duties commence on approval under the pre-pack gateway and include preparing a specified report confirming debtor eligibility and base resolution plan conformity, filing reports and documents with the Board, and performing other prescribed duties. Those duties cease if the debtor fails to file within the declared period or if the application is admitted or rejected by the Adjudicating Authority. Fees for these duties are determined and borne as prescribed and, upon admission of the application, form part of the pre-packaged insolvency resolution process costs.
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