https://www.taxtmi.com/article/detailed?id=13171 The resolution plan must provide for constitution of a Monitoring Committee-specifying its tenure, composition and functions-to monitor implementation, distribution of proceeds, transfer of assets and statutory compliance; the committee, chaired by the resolution professional or another insolvency professional and comprising CoC nominees and equal nominees of the successful resolution applicant, shall submit quarterly reports to the Adjudicating Authority and the Board and may seek directions where implementation deviates from the plan. The successful resolution applicant bears committee expenses and the chairperson's monthly fee is capped by the fee received during CIRP. en-us Tue, 03 Dec 2024 13:25:36 +0530 Tue, 03 Dec 2024 13:25:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13171 The resolution plan must provide for constitution of a Monitoring Committee-specifying its tenure, composition and functions-to monitor implementation, distribution of proceeds, transfer of assets and statutory compliance; the committee, chaired by the resolution professional or another insolvency professional and comprising CoC nominees and equal nominees of the successful resolution applicant, shall submit quarterly reports to the Adjudicating Authority and the Board and may seek directions where implementation deviates from the plan. The successful resolution applicant bears committee expenses and the chairperson's monthly fee is capped by the fee received during CIRP. Articles Corporate Laws / IBC / SEBI Tue, 03 Dec 2024 13:25:36 +0530 https://www.taxtmi.com/article/detailed?id=13171