Undertaking by IPs before Special Courts under PMLA

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....rofessional Agencies (By email to registered email addresses and on the website of the IBBI) Subject - Undertaking by IPs before Special Courts under PMLA It has been observed that in certain cases under the Insolvency and Bankruptcy Code, 2016 (IBC), the assets of the corporate debtor are under attachment by the Enforcement Directorate (ED) under the provisions of the Prevention of Money Laun....

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.... is annexed hereto with this Circular. 4. This is issued in exercise of powers conferred under section 196 of the IBC. Yours faithfully, Sd/- (Rajesh Tiwari) General Manager   Annexure Undertaking by Insolvency Professional before the Special Court under PMLA [To be submitted by the Resolution Professional while filing an application under section 8(7) or section 8(8) of the Prevent....

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....any person or entity named as an accused in, or charge-sheeted under, ECIR No. [_____] by the Enforcement Directorate (ED) or any relevant predicate agency on the basis of which the ED has initiated proceedings. 2. Periodic Reporting From the date of restitution until the approval of the resolution plan/dissolution order (as applicable) by the Adjudicating Authority, I shall submit quarterly s....

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....raudulent, or Extortionate (PUFE) transactions, as and when identified by me; b) Providing details of the Committee of Creditors, including its constitution and percentage voting shares; and c) Providing details of the Successful Resolution Applicant (SRA)/ Successful Bidder (as applicable), including a copy of the application and relevant orders/proceedings of the NCLT. 5. Document Producti....