On what grounds, an aggrieved debtor or creditor, may make an application to the Adjudicating Authority against the action taken by the Resolution Professional under the Fresh Start Process ? Also elaborate the restricti

Grounds for application against RP's action under Fresh Start Process: Section 87 of the Insolvency and Bankruptcy Code, 2016 provides that debtor or the creditor who is aggrieved by the action taken by the Resolution Professional under Section 86 may within ten days of such decision may make an application to the Adjudicating Authority challenging such action on any of the following grounds, namely:- that the Resolution Professional has not given an opportunity to the debtor or the creditor to make a representation; or that the Resolution Professional colluded with the other party in arriving at the decision; or that the Resolution Professional has not complied with the requirements of Section 86. The Adjudicating Authority shall decide the application referred within fourteen days of such application and make an order as it deems fit. Where the application has been allowed by the Adjudicating Authority it shall forward its order to the Board and the Board may take such action as may be required against the Resolution Professional. Restrictions imposed on a debtor during moratorium period of Fresh Start Process: The following restrictions are imposed on debtor during the moratorium period of Fresh Start Process, as provided under section 85(3) of the IBC: shall not act as a director of any company, or directly or indirectly take part in or be concerned in promotion, formation or management of the company. shall not dispose-off or alienate any of the assets. shall inform his business partners that he is undergoing a fresh start process. shall be required to inform prior to entering into any financial or commercial transaction of such value as may be notified by the Central Government, either individual or jointly, that he is undergoing a fresh start process. shall disclose the name under which he enters into business transactions, if it is a different name then the one under the application. shall not travel outside India except with the permission of the Adjudicating Authority.