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        IBC

        Regulation 51 - Vesting of the management with resolution professional

        Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021
        Chapter X
        MANAGEMENT OF AFFAIRS OF THE CORPORATE DEBTOR

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        Vesting of management with a resolution professional requires filing Form P14 to effect statutory transfer of control under pre pack rules. The resolution professional must file an application in Form P14 to initiate the statutory mechanism by which management functions of the corporate debtor are transferred to the resolution professional under the pre-packaged insolvency framework; compliance with the Form P14 filing is the operative step to effect the vesting of management.
                      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.

                            Vesting of management with a resolution professional requires filing Form P14 to effect statutory transfer of control under pre pack rules.

                            The resolution professional must file an application in Form P14 to initiate the statutory mechanism by which management functions of the corporate debtor are transferred to the resolution professional under the pre-packaged insolvency framework; compliance with the Form P14 filing is the operative step to effect the vesting of management.


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