https://www.taxtmi.com/acts?id=43202 Approval of insolvency resolution process costs requires committee oversight at the first meeting and thereafter. The resolution professional must place pre-first-meeting costs and their justification before the committee, prepare a Going Concern Assessment Report on income, expenditure, cash flows, working capital needs and value erosion risks, and seek the committee's decision on continuation, scope and duration of operations. After the first meeting, such costs can be incurred only with prior committee approval, supported by periodic estimates and comparisons with actual costs. en-us Fri, 16 Feb 2024 15:04:11 +0530 Thu, 11 Jun 2026 11:52:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=43202 Approval of insolvency resolution process costs requires committee oversight at the first meeting and thereafter. The resolution professional must place pre-first-meeting costs and their justification before the committee, prepare a Going Concern Assessment Report on income, expenditure, cash flows, working capital needs and value erosion risks, and seek the committee's decision on continuation, scope and duration of operations. After the first meeting, such costs can be incurred only with prior committee approval, supported by periodic estimates and comparisons with actual costs. Act-Rules IBC Fri, 16 Feb 2024 15:04:11 +0530 https://www.taxtmi.com/acts?id=43202