Due diligence under Section 29A: RPs must verify applicant eligibility and present detailed compliance notes to the creditors. The circular directs Resolution Professionals to verify compliance with Section 29A by ensuring Form G disclosures, Expression of Interest undertakings, affidavits with resolution plans, RP due diligence under Regulation 36A(8), and attachment of a Due Diligence Certificate to Form H, and to place a detailed note on Section 29A compliance before the Committee of Creditors with recorded deliberations.
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Due diligence under Section 29A: RPs must verify applicant eligibility and present detailed compliance notes to the creditors.
The circular directs Resolution Professionals to verify compliance with Section 29A by ensuring Form G disclosures, Expression of Interest undertakings, affidavits with resolution plans, RP due diligence under Regulation 36A(8), and attachment of a Due Diligence Certificate to Form H, and to place a detailed note on Section 29A compliance before the Committee of Creditors with recorded deliberations.
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