Duties and powers of resolution professional during prepackaged insolvency resolution process

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....resolution process of a corporate debtor during the pre-packaged insolvency resolution process period. (2) The resolution professional shall perform the following duties, namely:- (a) confirm the list of claims submitted by the corporate debtor under section 54G, in such manner as may be specified; (b) inform creditors regarding their claims as confirmed under clause (a), in s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e of transactions under Chapter III or fraudulent or wrongful trading under Chapter VI, if any; and (i) such other duties as may be specified. (3) The resolution professional shall exercise the following powers, namely:- (a) access all books of accounts, records and information available with the corporate debtor; (b) access the electronic records of the corporate deb....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ns relating to avoidance of transactions under Chapter III or fraudulent or wrongful trading under Chapter VI, including information relating to - (i) business operations for the previous two years from the date of pre-packaged insolvency commencement date; (ii) financial and operational payments for the previous two years from the date of prepackaged insolvency commencement date....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... him to perform his duties and exercise his powers, and for such purposes, the provisions of sub-sections (2) and (3) of section 19 shall, mutatis mutandis, apply in relation to the proceedings under this Chapter.] (6) The fees of the resolution professional and any expenses incurred by him for conducting the prepackaged insolvency resolution process shall be determined in such manner as may be....