TaxTMI 
TaxTMI 
Information memorandum.
X X X X Extracts X X X X
X X X X Extracts X X X X
....perations, financial statements, to the prospective resolution applicant and shall contain the following details of the corporate debtor-] ^3[(a) assets and liabilities ^10[including contingent liabilities] with such description, as on the insolvency commencement date, as are generally necessary for ascertaining their ^16[values;] Explanation: "Description" includes the details such as date of acquisition, cost of acquisition, remaining useful life, identification number, depreciation charged, book value, ^11[geographical coordinates of fixed assets] and any other relevant details.] ^17[(aa) Details of receivables of the corporate debtor, including trade receivables, inter-corporate receivables, and receivables ar....
X X X X Extracts X X X X
X X X X Extracts X X X X
....orities; ^15[(ha) details of all identified avoidance transactions, if any, under Chapter III or fraudulent or wrongful trading under Chapter VI of Part II of the Code and subsequent filings before Adjudicating Authority, as referred under sub-regulation (3A) of regulation 35A;] (i) the number of workers and employees and liabilities of the corporate debtor towards them; ^12[(j) company overview including snapshot of business performance, key contracts, key investment highlights and other factors which bring out the value as a going concern over and above the assets of the corporate debtor such as brought forward losses in the income tax returns, input credit of GST, key employees, key customers, supply chain link....
X X X X Extracts X X X X
X X X X Extracts X X X X
....all members within reasonable time if such information has a bearing on the resolution plan ^7[(3A) The creditors shall provide to the resolution professional the latest financial statements and other relevant financial information of the corporate debtor available with them.] ^4[(4) The resolution professional shall share the information memorandum after receiving an undertaking from a member of the committee ^6[****] to the effect that such member or resolution applicant shall maintain confidentiality of the information and shall not use such information to cause an undue gain or undue loss to itself or any other person and comply with the requirements under sub-section (2) of section 29.] **************** ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....morandum after receiving an undertaking from a member of the committee or a potential resolution applicant to the effect that such member or resolution applicant shall maintain confidentiality of the information and shall not use such information to cause an undue gain or undue loss to itself or any other person and comply with the requirements under section 29(2)." 5. Substituted vide Notification No. IBBI/2018-19/GN/REG031 dated 03-07-2018 before it was read as, ^"2[(1) Subject to sub-regulation (4), the resolution professional shall submit the information memorandum in electronic form to- (a) each member of the committee within two weeks of his appointment as resolution professional; and (b) to each prosp....