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Strengthening due diligence under Section 29A

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....ional Agencies (By mail to registered email addresses and on the website of the IBBI) Subject: Strengthening due diligence under Section 29A- reg. The Insolvency and Bankruptcy Code, 2016 (Code/ IBC) and Regulations made thereunder cast various duties on the Resolution Professional (RP) to ensure transparency during corporate insolvency resolution process (CIRP) and to facilitate informed decis....

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....36A(8): RP must carry out due diligence to verify that PRAs comply with Section 29A. * Compliance Certificate - Form H: RP must confirm that the affidavit is in order and attach a Due Diligence Certificate. 3. Due diligence with respect to section 29A compliance is paramount as it safeguards the integrity of the process by ensuring that only credible resolution applicants participate in the pro....