Definition
An insolvency professional appointed by the NCLT upon admission of a CIRP petition to manage the corporate debtor's affairs during the resolution process. The IRP constitutes the Committee of Creditors (CoC), manages the affairs of the corporate debtor as a going concern, invites expressions of interest for resolution plans, and facilitates the CoC's decision-making.
Related Terms
CIRPCoCResolution ProfessionalNCLT
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Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates