The powers of the management of controlling the assets of the Corporate Debtor or Company is transferred to the Resolution Professional or the liquidator as the case may be.
The insolvency and bankruptcy code, 2016 has seen many ups and downs since the enactment but out of all the most long and debatable topic or issue concerning law was pertaining to the rights of Home buyers/Allottee under the code.
The IBC has clearly outlined the powers and duties of the resolution professional that he can exercise during the insolvency resolution process
The duties of liquidator have been elaborately mentioned in this article to make aware about his position as an Officer.
The government could soon promulgate an ordinance to make changes to the Insolvency and Bankruptcy Code that will provide relief to small businesses and homebuyers
In this article we will elaborately discuss about an Interim resolution professional, his duties, eligibility and other aspects.
The government must amend the IBC to recognize the legitimate claim of home buyers. After all, they use their lifetime savings to invest in a house.
The regulator is planning to come out with a discussion paper on compliance with SEBI standards by listed companies undergoing insolvency resolution process.
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