Insolvency and Bankruptcy Board of India (IBBI) is organising a Webinar on the Engagement of Professionals during CIRP on Wednesday, 16th February 2022, from 15.30 to 17.00 hrs.
In terms of Section 20 of the Insolvency and Bankruptcy Code, 2016, an Interim Resolution Professional (IRP) is required to make every endeavour to protect and preserve the value of the property of a Corporate Debtor (CD) and manage its operations as a going concern. For this purpose, an IRP has the authority to appoint accountants, legal or other professionals as may be felt necessary. Similarly, Section 25(2)(d) of the Code requires the Resolution Professional (RP) to preserve and protect the assets of the CD, including continued business operations of the CD. For this purpose, the RP has the authority to appoint accountants, legal or other professionals in a manner as specified by the Board.
Further, Section 240 of the Code empowers the Board to make regulations to provide for the manner of appointing accountants, lawyers, and other professionals/advisors under section 25(2)(d) of the Code.
This Webinar aims to discuss the legal provisions of the Code and regulations regarding the engagement of such professionals. The evolving jurisprudence emerging from orders of Adjudicating Authorities and Disciplinary Committee will also be discussed in the webinar. The issues including, the nature of professionals that can be engaged and potential situations of conflict of interests will be deliberated upon, enhancing existing understanding of the IPs, ensuring compliance with the Code in letter and spirit.
Speakers
• Mr. Sudhaker Shukla, Whole Time Member, IBBI
• Mr. Sandip Garg, Executive Director, IBBI
• Dr. Kokila Jayaram, DGM, IBBI
• Mr. Asit Behera, Assistant Manager, IBBI
The link for joining the Webinar is – CLICK HERE
For any further information/clarification, please write to:
workshop.ip@ibbi.gov.in
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