Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 10] [Entire Act]

Union of India - Subsection

Section 10(5) in Insolvency And Bankruptcy Board Of India (Bankruptcy Process For Personal Guarantors To Corporate Debtors) Regulations, 2019

(5)The progress reports shall be confidential during the bankruptcy process, unless the Adjudicating Authority permits any person to access it on specified terms and conditions.IllustrationWhere an insolvency professional becomes a bankruptcy trustee on 13th February, 2020 and ceases to act as such on 12th February, 2021, he shall submit progress reports as under:
Report No. Period covered in the Quarter Last Date of Submission of Report
1 13th February - 31st March, 2020 15th April, 2020
2 April - June, 2020 15th July, 2020
3 July - September, 2020 15th October, 2020
4 October - December, 2020 15th January, 2021
5 January - 12th February, 2021 27th February, 2021
He shall submit the audited accounts of receiptsand payments as under:
Account No. Period covered in the Quarter Last Date of Submission of Report
1 13th February - 31st March, 2020 15th April, 2020
2 1st April, 2019 - 12th February, 2021 27th February, 2021