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of <h1>Insolvency Professionals Must Ensure Compliance with All Laws During Resolution or Liquidation Under IBC Sections 196 & 208.</h1> Insolvency professionals must ensure that corporate entities undergoing insolvency resolution, fast track resolution, liquidation, or voluntary liquidation comply with all applicable laws, including regulations from the Securities and Exchange Board of India, unless exemptions apply. Professionals acting as Interim Resolution Professionals, Resolution Professionals, or Liquidators must exercise diligence and take necessary steps to ensure compliance. Any losses or penalties due to non-compliance will not be considered part of the insolvency or liquidation process costs, and the professional may be held accountable for non-compliance due to their conduct. This directive is issued under sections 196 and 208 of the Insolvency and Bankruptcy Code, 2016.
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