Section 23 of Insolvency and Bankruptcy Code 2016

By | December 1, 2016
(Last Updated On: December 1, 2016)

Section 23 of Insolvency and Bankruptcy Code 2016

[ Note : Section 23  comes into force w.e.f 1st December 2016 vide notification no S.O. 3594(E) dated 30th November 2016 ].

Resolution professional to conduct corporate insolvency resolution process.

23. (1) Subject to section 27, the resolution professional shall conduct the entire corporate insolvency resolution process and manage the operations of the corporate debtor during the corporate insolvency resolution process period.

(2) The resolution professional shall exercise powers and perform duties as are vested or conferred on the interim resolution professional under this Chapter.

(3) In case of any appointment of a resolution professional under sub-section (4) of section 22, the interim resolution professional shall provide all the information, documents and records pertaining to the corporate debtor in his possession and knowledge to the resolution professional.

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