Considering the points raised by National Company Law Tribunal in this case, answer the following questions mentioning the relevant Sections of IBC/IBBI (CIRP) Regulations: In case the Books are not provided by the Corpo
CS Professional · Insolvency and Bankruptcy - Law and Practice · PYQS · December 2024
Considering the points raised by National Company Law Tribunal in this case, answer the following questions mentioning the relevant Sections of IBC/IBBI (CIRP) Regulations: In case the Books are not provided by the Corporate Debtors, list out the persons/authorities with whom the IRP/RP may access the books or records as per the Regulations.
Answer & Explanation:
Regulation 4 of the IBBI CIRP Regulations authorises the resolution professional to access the books maintained with parties. It states that without prejudice to section 17(2)(d), the interim resolution professional or the resolution professional, as the case may be, may access the books of account, records and other relevant documents and information, to the extent relevant for discharging his duties under the Code, of the corporate debtor held with- depositories of securities; professional advisors of the corporate debtor; information utilities; other registries that records the ownership of assets; members, promoters, partners, board of directors and joint venture partners of the corporate debtor; and contractual counterparties of the corporate debtor
Topics: Duties of RP
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