Non Corporate Entities
A - As Resolution Professional
Insolvency Resolution Professional (IRP) has been appointed to conduct the fresh start insolvency and bankruptcy process of individual and partnership firm. Resolution Professional or bankruptcy trustee is being appointed after filing of application to perform following duties:
- To File an application for fresh start insolvency process
- Collecting all the necessary information required for further proceedings
- Verifying all the claims and finalize list of creditors
- Submitting report to adjudicating authority for approval or rejection of application
- Preparation of Repayment Plan
- Conducting such other activities as may be ordered by the adjudicating authority for smooth functioning of the process.
- carrying out the operations of the Debtor as a running unit
- managing the affairs of the firm or individual Debtor
- conveying meetings of creditors, as and when required
- conducting meetings of creditors for approval of Repayment Plan
- Submitting the Repayment Plan to adjudicating authority as approved by creditors
- All other matters as and when required for carrying on the proceeding
