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Insolvency Resolution Professional India IBC PDF

Insolvency professional is an experienced financial/business management executive or a lawyer that conducts the process of insolvency resolution. This Presentation details the tasks, the characteristics, the qualifications and the roles of these professionals.

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Insolvency Resolution Professional India IBC PDF

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  1. Insolvency Professional Understanding the meaning behind these professionals

  2. Who Is Insolvency Professional? Insolvency professional is the individual appointed by the corporate debtors to conduct the insolvency resolution process. Section Break Insert the Sub Title of Your Presentation Note: Insolvency resolution process is the proceeding to deal with the insolvency and bankruptcy of a corporate debtor.

  3. Role Of Insolvency Professional 01 They provide specialized services for insolvency resolution process. 02 They tap into information utility to obtain the information about the insolvency debtor. 03 They formulate the insolvency resolution plan. 04 They act as an agent for the corporate debtor in the NCLT.

  4. Activity of Insolvency Resolution Professional Add Text 1. Identification of the Non performing assets of the companies 2. Management of the non performing/stressed assets of the companies 3. Taking the control of the business relations of the companies 4. Preparation of the insolvency Resolution plan 5. Presenting the plan in front of the committee of creditors.

  5. Eligibility Criteria of an Insolvency Resolution Professional 1. The professional should be above the age of 18 Section Break Insert the Sub Title of Your Presentation 2. The professional should be from India 3. There should be no convictions against the professional 4. The professional should not be insolvent 5. The professional should be of a sound character and mind.

  6. Meaning Of No Convictions against the Professional 1. The professional shouldn’t have committed any offence that caused him/her to go to jail for more than 6 months Section Break Insert the Sub Title of Your Presentation 2. The professional should not have committed any offence of moral nature 3. After expiry of the sentence, the professional cannot apply to be IP for 5 years.

  7. Meaning of Professional Should Be Of Sound Character and Mind Section Break Insert the Sub Title of Your Presentation 2. Insolvency professional should have character, integrity and reputation. 1. Insolvency professional should be free from convictions 3. Insolvency professional should be competent in financial insolvency matters.

  8. Types of Professionals That Can Be Insolvency Resolution Professionals Section Break Insert the Sub Title of Your Presentation 2. A Company secretary. 1. A Chartered Accountant. 3. An Advocate. 4. A Cost Accountant.

  9. Qualification of the Insolvency Professional Section Break Insert the Sub Title of Your Presentation business/financial management. • Professional Experience: 15 years in • Exam to pass: Limited Insolvency examination.

  10. Code of Conduct of Insolvency Resolution Professionals • They should display a high degree of integrity Section Break Insert the Sub Title of Your Presentation • They should display a large degree of objectivity • They should act independently and should not be biased • They should have professional competence • They should not engage fraudulent practices • They should provide the details on time

  11. Code of Conduct of Insolvency Resolution Professionals (Continued) • The professionals should properly management information • The professionals should adhere to the rules of IBBI Section Break Insert the Sub Title of Your Presentation • The professionals should keep the insolvency resolution proceedings confidential. • They should accept too many assignments. • They should not engage with employment unless that have left the previous IPA. Note: IPA refers to Insolvency professional Association

  12. Features of Well-Functioning Insolvency Professionals 1. They enable the courts with right information. Section Break Insert the Sub Title of Your Presentation 3. They ensure timeliness in their work. 2. They do not engage with fraudulent practices. 4. They ensure that Insolvency resolutions proceedings are effective. 5. They can act as a liquidator when asked.

  13. Contact Us Phone Number : +91-8882-580-580 Section Break Insert the Sub Title of Your Presentation Email : support@registrationwala.com Website:

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