TaxTMI 
TaxTMI 
Measures for facilitating efficient conduct of the processes by the Insolvency Professionals
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.... All Registered Insolvency Professional Agencies (By mail to registered email addresses) Dear Madam/ Sir, Subject: Measures for facilitating efficient conduct of the processes by the Insolvency Professionals An Insolvency Professional (IP) assumes different roles and performs various functions under the Insolvency and Bankruptcy Code, 2016 (Code). The Code empowers an IP to appoint account....
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....ed from stakeholders and experiences encountered during implementation, it is considered imperative to provide clarity on few areas to facilitate smooth and efficient conduct of the processes. These issues and clarification thereupon have been elaborated in ensuing paragraphs: 3.1. Clarification in relation to rendering professional service by an IP in implementation of the resolution plan appro....
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....solution plan inter alia including its implementation schedule, management, and control of the business of the CD during its term and adequate means for supervising its implementation. 3.1.4. In several instances, it is observed that the Adjudicating Authority (AA) approves the resolution plan with provisions for constitution of implementation or monitoring committees, subject to meeting other r....
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.... specified in First Schedule to IP Regulations stipulates that an IP shall ensure that the IPE or the professional engaged by it raises bills or invoices in their own name towards their fees, and such fees shall be paid to them through banking channel. 3.2.2. It is pertinent to note that as per the terms of engagement or the market practice, the bill or invoice may also be raised in the name of ....