Resolution professional duties in creditor-initiated insolvency resolution process include claims, information memorandum, compliance reports, and cooperation obligations. The resolution professional in a creditor-initiated insolvency resolution process must call for claims, prepare the information memorandum, prepare a report on procedural compliance and compliance of the resolution plan with sections 29A and 30, and perform the duties and powers specified by reference to other provisions of the Code. The resolution professional must also file reports and documents with the Board and carry out other specified duties. Persons connected with the corporate debtor, including personnel, promoters, management associates and contract service providers, must extend assistance and cooperation to the resolution professional.
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Provisions expressly mentioned in the judgment/order text.
Resolution professional duties in creditor-initiated insolvency resolution process include claims, information memorandum, compliance reports, and cooperation obligations.
The resolution professional in a creditor-initiated insolvency resolution process must call for claims, prepare the information memorandum, prepare a report on procedural compliance and compliance of the resolution plan with sections 29A and 30, and perform the duties and powers specified by reference to other provisions of the Code. The resolution professional must also file reports and documents with the Board and carry out other specified duties. Persons connected with the corporate debtor, including personnel, promoters, management associates and contract service providers, must extend assistance and cooperation to the resolution professional.
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