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of <h1>IRP's Role in CIRP: Preserve Debtor's Assets, Manage Operations, Raise Finance Under Section 20 IBC Without New Security.</h1> The interim resolution professional (IRP) is tasked with protecting and preserving the value of a corporate debtor's property and managing its operations as a going concern during the Corporate Insolvency Resolution Process (CIRP) under Section 20 of the IBC. The IRP can appoint necessary professionals, enter or modify contracts, and raise interim finance without creating new security interests on encumbered properties without creditor consent unless the property's value is at least twice the debt amount. Interim finance aids in the debtor's reorganization. Advances for goods during CIRP are treated as CIRP costs, not interim finance.
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