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of <h1>Resolution Professional's Duties Before Pre-Packaged Insolvency: Key Steps Under Section 54B IBC</h1> The duties of a resolution professional before initiating a pre-packaged insolvency resolution process are outlined under Section 54B of the Insolvency and Bankruptcy Code (IBC). These duties commence upon approval by financial creditors and end upon the admission or rejection of the application by the Adjudicating Authority. Key responsibilities include preparing a report confirming compliance with Section 54A requirements, filing necessary reports and forms electronically, and performing any additional specified duties. The duties cease if the corporate debtor fails to file an application within the specified period or if the application is admitted or rejected. Fees for these duties are determined as per regulations and are borne by the corporate debtor if the application is rejected.
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