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of <h1>Regulation 50: Corporate Debtor Management During Insolvency Requires Committee Approval for Major Actions and Monthly Reporting</h1> Regulation 50 of the Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021, outlines the management of a corporate debtor during insolvency proceedings. The corporate debtor must not act in a way that harms creditors or is fraudulent. Prior committee approval is required for significant transactions or other specified actions. A monthly report detailing legal proceedings, key contracts, and other impactful matters must be prepared and shared with the committee. The resolution professional can request operational information, visit premises, inspect assets, and gather compliance and litigation details to assess the debtor's conduct.
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