Definition
The insolvency professional appointed by the NCLT when it admits a CIRP petition under the IBC. The IRP serves during the initial 30-day period before the Committee of Creditors appoints a Resolution Professional. The IRP takes over management of the corporate debtor and calls for claims from all creditors.
Related Terms
IBCCIRPResolution ProfessionalCoC
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Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates