valid as on 19/02/2020

IBC Section 23-Resolution professional to conduct corporate insolvency resolution process.
Effective from 01.12.2016 and font in blue is effective from 06.06.2018

(1) Subject to section 27, the resolution professional shall conduct the entire corporate insolvency resolution process and manage the operations of the corporate debtor during the corporate insolvency resolution process period.

the resolution professional shall continue to manage the operations of the corporate debtor after the expiry of the corporate insolvency resolution process period, until an order approving the resolution plan under sub-section (1) of section 31 or appointing a liquidator under section 34 is passed by the Adjudicating Authority.
the resolution professional shall, if the resolution plan under sub-section (6) of section 30 has been submitted, continue to manage the operations of the corporate debtor after the expiry of the corporate insolvency resolution process period untill an order is passed by the Adjudicating Authority under section 31.

(2) The resolution professional shall exercise powers and perform duties as are vested or conferred on the interim resolution professional under this Chapter.

(3) In case of any appointment of a resolution professional under sub-sections (4) of section 22, the interim resolution professional shall provide all the information, documents and records pertaining to the corporate debtor in his possession and knowledge to the resolution professional.

Substituted vide the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 dated 28.12.2019. To view the Ordinance. Click Here
Inserted  vide the Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 dated 17.08.2018 w.e.f., 06.06.2018 and Substituted vide the Insolvency and Bankruptcy Code (Amendment) Ordinane, 2019 dated 28.12.2019 To view the Notification,Click Here

IBC-Enforcement Notification [S.O.3594(E)] dated 30/11/2016


Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 dated 06.06.2018 [repealed by the Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 dated 17.08.2018 w.e.f., 06.06.2018]


The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 dated 28.12.2019


The Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 dated 17.08.2018 w.e.f., 06.06.2018


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