https://www.taxtmi.com/article/detailed?id=9216 Verification of creditor claims is an express duty of the interim/resolution professional under the CIRP Regulations; while an IP may appoint professionals for assistance, the Code and Board circular prohibit outsourcing core statutory duties. Engaging a third-party Insolvency Professional Entity to verify and certify claims and charging the corporate debtor for that service constitutes delegation of the IP's verification duty, risks contravention of IP Regulations and CIRP Regulations, and may attract regulatory disciplinary action and sanctions. en-us Wed, 27 May 2020 10:40:36 +0530 Wed, 27 May 2020 10:40:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9216 Verification of creditor claims is an express duty of the interim/resolution professional under the CIRP Regulations; while an IP may appoint professionals for assistance, the Code and Board circular prohibit outsourcing core statutory duties. Engaging a third-party Insolvency Professional Entity to verify and certify claims and charging the corporate debtor for that service constitutes delegation of the IP's verification duty, risks contravention of IP Regulations and CIRP Regulations, and may attract regulatory disciplinary action and sanctions. Articles Corporate Laws / IBC / SEBI Wed, 27 May 2020 10:40:36 +0530 https://www.taxtmi.com/article/detailed?id=9216