Explain the duties of Interim Resolution Professional (IRP) under Insolvency and Bankruptcy Code, 2016.

As per Section 18 of the Insolvency and Bankruptcy Code, 2016 the Interim Resolution Professional shall perform the following duties, namely:- collect all information relating to the assets, finances and operations of the corporate debtor for determining the financial position of the corporate debtor, including information relating to business operations for the previous two years; financial and operational payments for the previous two years etc. receive and collate all the claims submitted by creditors to him, pursuant to the public announcement; constitute a committee of creditors; monitor the assets of the corporate debtor and manage its operations until a resolution professional is appointed by the committee of creditors; file information collected with the information utility, if necessary; take control and custody of any asset over which the corporate debtor has ownership rights as recorded in the balance sheet of the corporate debtor, or with information utility or the depository of securities or any other registry that records the ownership of assets to perform such other duties as may be specified by the Board.