Management of operations of corporate debtor as going concern [Section 20]

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....ect and preserve the value of the property of the corporate debtor and manage the operations of the corporate debtor as a going concern. Authority of IRP [ Section 20(2) ] * For the purposes of section 20(1), the interim resolution professional shall have the authority- * (a) to appoint accountants, legal or other professionals as may be necessary; * (b) to enter into contracts on behalf of....

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....ssional (IRP)/ Resolution professional (RP) to raise interim finance in order to protect and preserve the value of the property of the Corporate Debtor and manage its operations as a going concern. Interim finance is a very useful device for the effective reorganization of a Corporate Debtor (CD). * (d) to issue instructions to personnel of the corporate debtor as may be necessary for keeping th....