Jan 27, 2020 · According to the Code, “Resolution Professional” means an Insolvency Professional who conducts the insolvency resolution process and includes an interim resolution professional and takes necessary steps to revive the company.

Powers and duties of the resolution professional Section 25(1) of Insolvency and Bankruptcy Code 2016 : It shall be the duty of the resolution professional to preserve and protect the assets of the corporate debtor, including the continued business operations of the corporate debtor.

Jun 3, 2020 · Resolution Professional is the first person appointed and the last person to be relieved. The primary role of the Resolution Professional is to ensure the revival of the corporate debtor. However, more important for the Resolution Professional is to keep the process transparent and fair.

May 14, 2023 · An important key in the CIRP is a resolution professional, from accepting an application to the final execution of the resolution plan, a person who look up to every aspect of the whole corporate insolvency resolution process and fulfills the need.

Jan 30, 2025 · IBC Section 25-Duties of resolution professional. (1) It shall be the duty of the resolution professional to preserve and protect the assets of the corporate debtor, including the continued business operations of the corporate debtor.

Among the key players in the insolvency resolution process is the Resolution Professional (RP). This individual plays a pivotal role in facilitating the smooth and efficient resolution of distressed companies, ensuring fair treatment of creditors and stakeholders.

Powers and duties of Resolution Professional •Powers of Board of Directors •Suspension of Board •Officers and others report to IRP / RP •To act and sign for and on behalf of Corporate Debtor •Asset Protection and maximise value •Take control of assets •Security, insurance etc. •Claims - admission and rejection

Jun 29, 2022 · Resolution Professional is also known as Insolvency Professional who regulates Insolvency Resolution Process, which also include Interim Resolution Professional (IRP) who take requisite steps to revive the company.

Jul 1, 2018 · Chapter-II Corporate Insolvency Resolution Process. Section 25: Duties of resolution professional. * 25. (1) It shall be the duty of the resolution professional to preserve and protect the assets of the corporate debtor, including the continued business operations of …

Aug 25, 2020 · The role of the resolution professional in the revival of the corporate debtor is stated in detail in several Sections of the Code read with the 2016 Regulations, which is listed below: Appointment: Adjudicating Authority appoints an interim resolution professional in the manner laid down in Section 16. [Section 13(1)(c)]