RESOLUTION PROFESSIONAL

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RESOLUTION PROFESSIONAL

 

  • To take the process of determination of liquidation value of the Corporate Debtor by way of arriving at estimated realisable value of the assets on the insolvency commencement date.
  • To take physical evaluation of the fixed assets and inventory of the corporate debtor.
  • To appoint two registered valuers for valuation of the assets as per international standards
  • To raise interim finance, subject to the approval of the committee of creditors, to meet the CIRP cost.
  •  To collect all information and documents to determine liquidation value of the   corporate debtor.
  • To protect and preserve the value of the property of the corporate debtor and manage the operations of the corporate debtor as a going concern.
  • To convene and conduct the meetings of the Committee of creditors, with prior notice.
  • To prepare the information memorandum in accordance with section 29 consisting of all financial information about the corporate debtor, litigations, claims, workmen obligations,
  • To invite applicant, prospective lenders, investors, and any other persons to put forward resolution plans.
  • To file application for avoidance of transactions in accordance with Chapter III, if any. 
  • To analyse the financial statements of the company for the last 3 years.
  • Preparation of the financial model and a Resolution Plan based on the mutually agreed commercial viable financial structure.
  • To examine each resolution plan submitted by Applicant, with regard to all aspects, as laid down in IBC, 2016 including its implementation and supervision.
  • To present the resolution plans to the committee of creditors for its approval.
  • To submit the Resolution Plan to the Adjudicating Authority.
  • Drafting, settling and filing all representations, petitions, replies, rejoinders and all other such pleading as may be necessary before the Adjudicating Authority and appearances for hearing before the Adjudicating Authority.
  • Conferences, consultations, legal opinions and advice etc. with respect to any issues relating to proceeding under the code.
  • Filing and defending of any Applications which may be filed by the company or against the company with NCLT/ NCLAT.
  • Performing all duties of an Interim Resolution Professional/ Resolution Professional /Liquidator by an Insolvency Professionals in their individual capacity (out of the partners of AAA Insolvency Professionals LLP or from a list of empaneled IPs).
  1. Any other assignment under Insolvency and Bankruptcy Code 2016.