How is Interim Resolution Professional Appointed under IBC

The resolution professional, as proposed respectively in the application under section 7 or section 10 of IBC, shall be appointed as the interim resolution professional under Section 16(2) of IBC, if no disciplinary proceedings are pending against him.

Filing of claims under IBC

If any individual has any outstanding claims against an organization and the said organization has been exposed to CIRP, the primary thing that must be finished by such bank immediately is to document his/her cases before any IRP/RP.

Why Filing of Claim is Necessary under IBC

Filing Claim under IBC- It becomes very important to understand why every creditor should file their claims?

How to choose your Interim Resolution Professional (IRP) for Insolvency Process

an Insolvency Professional having all the aforementioned requirements may be chosen as An IRP for the corporate debtor. However it may have an advantage over other IRP if the person had already dealt in that specific industry being an RP/IRP.

No issues can be raised before any court or tribunal after resolution plan attained finality

Once the resolution plan is approved and is implemented under IBC, no issue can be raised at a later stage when resolution Process Costs and fees of the Resolution Professional.

Check if you need to file a claim for company facing insolvency process

In order to avoid rejection of the claims, the filing of claim should be done by an expert person having knowledge of Insolvency laws. 

How to file claim for Insolvency against Today Homes

The claims can be filed before the Resolution Process will be closed, but in the same case, the Creditor cannot become a part of the COC without filing the claim.

How to file claim before IRP upon Insolvency

All the creditors need to file a claim with the IRP regarding their debts under different forms which are provided in the schedule of Insolvency and Bankruptcy Board of India Regulations, 2016.

Resolution Professional (Appointment, Tenure) and his Duties

The officers and managers of the Corporate Debtor, shall report to Resolution Professional. They shall provide him all the documents or records as required by him in the course of his duties.

Initiation of Disciplinary Proceedings against the Insolvency Professional

Any aggrieved person can take a legal action against the Insolvency Professional who contravenes any of the provisions of the Code or violates or deviates from the professional duty entrusted upon him/her.

Insolvency and Resolution Process of Corporate Debtor

In this article we will precisely discuss about the conduct of insolvency process by corporate debtor who is also called as corporate applicant.

Corporate Insolvency Resolution Process (IRP)

The scheme as provided under the Code stipulates a mechanism wherein the Insolvency Resolution Process is reckoned upon any default upon non-payment of debt due.