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CS Professional · Drafting, Pleadings and Appearances · Appearance before other Regulatory and Quasi-judicial Authorities

An enterprise's resolution professional, appointed under the Insolvency and Bankruptcy Code, 2016, is asked whether he may act for the corporate debtor in a pending proceeding before a quasi-judicial authority such as the CCI. Which provision supports him?

The resolution professional may represent and act on behalf of the corporate debtor and exercise its rights in judicial, quasi-judicial or arbitration proceedings. This is a duty under section 25(2)(b) of the Code and does not need a separate committee of creditors resolution for each proceeding.

  1. AHe may do so only after the committee of creditors passes a resolution for each proceeding
  2. BHe may not, because only the erstwhile board can represent the corporate debtor
  3. CHe may represent and act on behalf of the corporate debtor and exercise its rights in judicial, quasi-judicial or arbitration proceedingsCorrect
  4. DHe may do so only through an advocate, not personally or through professionals

Explanation

Section 25(2)(b) of the Code requires the resolution professional to represent and act on behalf of the corporate debtor with third parties and exercise rights for its benefit in judicial, quasi-judicial or arbitration proceedings. It does not require a committee resolution for each proceeding, and he may also appoint professionals under clause (d).

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