Podcast
Questions and Answers
What is the responsibility of the interim resolution professional and resolution professional during the CIRP?
What is the responsibility of the interim resolution professional and resolution professional during the CIRP?
- They are responsible for appointing the committee of creditors
- They are responsible for filing claims on behalf of the stakeholders
- They are responsible for finalizing the insolvency resolution plan
- They are responsible for compliance with legal requirements on behalf of the corporate debtor (correct)
What forms are prescribed for submission of claims by different stakeholders?
What forms are prescribed for submission of claims by different stakeholders?
- Form A, Form B, Form C
- Form B, Form C, Form CA (correct)
- Form D, Form E, Form F
- Form C, Form D, Form E
How is the committee of creditors constituted during the CIRP?
How is the committee of creditors constituted during the CIRP?
- By the financial creditors directly
- By the interim resolution professional collating all claims (correct)
- By the National Company Law Tribunal (NCLT)
- By the corporate debtor's management team
Can a financial creditor who is a related party of the corporate debtor participate or vote in the committee of creditors?
Can a financial creditor who is a related party of the corporate debtor participate or vote in the committee of creditors?
What information does the notice for the meeting contain?
What information does the notice for the meeting contain?
Is physical presence mandatory for a member of the committee of creditors to cast a vote?
Is physical presence mandatory for a member of the committee of creditors to cast a vote?
How does the resolution professional take the vote of the committee of creditors?
How does the resolution professional take the vote of the committee of creditors?
How is the authorised representative for the class of creditors appointed?
How is the authorised representative for the class of creditors appointed?
What happens if the corporate debtor owes financial debts to multiple financial creditors as part of a consortium or agreement?
What happens if the corporate debtor owes financial debts to multiple financial creditors as part of a consortium or agreement?
What happens if the corporate debtor does not have any financial creditors or if all financial creditors are related parties?
What happens if the corporate debtor does not have any financial creditors or if all financial creditors are related parties?
Who are the members of the committee of creditors when it consists only of operational creditors?
Who are the members of the committee of creditors when it consists only of operational creditors?
How is the resolution professional appointed by the committee of creditors?
How is the resolution professional appointed by the committee of creditors?
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