INTERIM RESOLUTION PROFESSIONAL

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INTERIM RESOLUTION PROFESSIONAL

  1. To assist in drafting and release of Public Announcement regarding initiation of CIRP immediately after the admission order as required under the Code.
  2. To collect all information relating to the assets, liabilities and operations of the corporate debtor for determining the financial position of the corporate debtor, including information relating to:-

 

  1. business operations for the previous two years;
  2. financial and operational payments for the previous two years;
  3. list of assets and liabilities as on the CIRP commencement date; and
  4. such other matters as may be specified;
  • To receive and collate all the claims submitted by financial creditors, operational creditors, workmen and employees.

 

  1. To verify all claims, ask for proofs and documents to substantiation of their claims.
  2. To determine the value of each claim after verification from the documents submitted by claimants and presentations made by them before the IRP.
  3. To prepare a list of creditors, submit the same before the Adjudicating Authority and present the list before the committee of creditors.
  • To constitute a committee of creditors.
  • To convene and conduct first meeting of committee of creditors with due notice, appropriate contents, quorum at the meeting and assure and manage voting, if required.

 

  1. To monitor the assets of the corporate debtor and manage its operations.

 

  1. To file information collected with the information utility, if necessary.
  2. To take control and custody of all the asset of the corporate debtor including.
  • To apply and obtain help from local administration by making an application to Adjudicating Authority. Such help may be required for assuring Police help for taking over custody of the assets, getting access to the premises for management of the corporate debtor as running concern, protecting assets of the corporate debtor from theft, etc.
  • To appoint registered valuers for valuation of Immovable properties, Plant and machinery and financial assets (within 7 days of our appointment).
  • To appoint Legal consultants, accountants, financial and other Professionals.
  1. To call upon the promoters or any other person associated with the management of the corporate debtor, for the assistance/ information from them as may be required in managing the affairs of the corporate debtor.

 

  • To issue instructions to personnel of the corporate debtor as may be necessary for management of the business as running concern and to protect the assets of the corporate debtor.