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IBBI specifies role of Resolution Professional and Liquidator in respect of Avoidance Transactions

May 13, 2020
The IBBI has demarcated responsibilities of an insolvency professional in corporate insolvency resolution process (CIRP) and liquidation process. To enable the insolvency professional and the committee of creditors (CoC) to have a complete and clear understanding of their roles and responsibilities in a CIRP. The AA has disposed of a few applications relating avoidance transactions. Some matters have travelled up to the Supreme Court.
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