Insolvency professional to ensure compliance with provisions of the applicable laws

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....vency Professional Agencies (By mail to registered 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....

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....able care and diligence and take all necessary steps to ensure 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 f....