Section 25 of IBC : Section 25: Duties Of Resolution Professional

IBC

JavaScript did not load properly

Some content might be missing or broken. Please try disabling content blockers or use a different browser like Chrome, Safari or Firefox.

Explanation using Example

Imagine a company, XYZ Pvt. Ltd., is facing insolvency and has been brought under the corporate insolvency resolution process (CIRP) as per The Insolvency and Bankruptcy Code, 2016. A resolution professional (RP) is appointed to manage the affairs of XYZ Pvt. Ltd. during this process.

Under Section 25 of the Code, the RP steps in and takes control of all the company's assets. This includes securing the manufacturing plant and office premises, taking over the company's bank accounts, and safeguarding the business records.

The RP then represents XYZ Pvt. Ltd. in a pending lawsuit for a contract breach, ensuring the company's rights are defended. To keep the business afloat, the RP arranges interim finan...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.

🚀 Special Offer! Enjoy 1 Year of Ad-Free Browsing with any subscription.
KanoonGPT is now faster and smarter, powered by upgraded servers.
Subscribe today and unlock all new features!
Update: Discover how KanoonGPT revolutionizes legal research! Watch our demo video on the homepage to see how you can chat with various legal sections using our innovative hybrid AI search. Enjoy free unlimited AI access for a limited time!
Update: Page bookmarking and open in new tab is now supported! Simply use your browser's bookmark manager to save this page for quick access later.
Update: We're building AI tools for the Indian Law community. Help shape the future by filling out this quick form for a chance to get a free 1-year usage of the requested tool.

Download Digital Bare Acts on mobile or tablet with "Kanoon Library" app

Kanoon Library Android App - Play Store LinkKanoon Library iOS App - App Store Link