Describe the general duties of a debtor under Fresh Start Process.

CS Professional · Corporate Restructuring, Insolvency, Liquidation & Winding-up · PYQS · December 2021
Describe the general duties of a debtor under Fresh Start Process.

Answer & Explanation:

Section 88 the Insolvency and Bankruptcy Code, 2016 lists out the general duties of the debtor. According to section 88, the debtor shall - make available to the resolution professional all information relating to his affairs, attend meetings and comply with the requests of the resolution professional in relation to the fresh start process. inform the resolution professional as soon as reasonably possible of - (i) any material error or omission in relation to the information or document supplied to the resolution professional; or (ii) any change in financial circumstances after the date of application, where such change has an impact on the fresh start process.

Topics: Insolvency and Bankruptcy Code, 2016

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