Section 99 of IBC : Section 99: Submission Of Report By Resolution Professional

(1) The person managing the debt resolution process (resolution professional) must review the application for resolving debt within 10 days after they start their job. They must then tell the court (Adjudicating Authority) if they think the application should be accepted or denied.

(2) If a credito

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Imagine a small business owner, Mr. A, who has taken a loan from Mr. B but is unable to repay it due to financial difficulties. Mr. B files an application under section 95 of the Insolvency and Bankruptcy Code, 2016, to initiate insolvency procee

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