Insolvency professional to ensure compliance with provisions of the applicable laws

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....email addresses and on the web site of the IBBI) Dear Madam / Sir, Sub: Insolvency professional to ensure compliance with provisions of the applicable laws. A corporate person undergoing insolvency resolution process, fast track insolvency resolution process, liquidation process or voluntary liquidation process under the Insolvency and Bankruptcy Code, 2016 (Code) needs to comply with provision....

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.... that the corporate person undergoing any process under the Code complies with the applicable laws. 3. It is clarified that if a corporate person during any of the aforesaid processes under the Code suffers any loss, including penalty, if any, on account of non-compliance of any provision of the applicable laws, such loss shall not form part of insolvency resolution process cost or liquidation pr....