Submitted By: Vaibhav Tripathi
Insolvency professional to ensure compliance with provisions of the applicable laws.
Gemini said During any insolvency or liquidation process under the IBC, the corporate entity must continue to comply with all applicable laws, and the appointed Insolvency Professional (IRP, RP, or Liquidator) is legally mandated to ensure this ongoing compliance. If non-compliance occurs, any resulting losses or statutory penalties cannot be claimed as insolvency or liquidation process costs. Furthermore, the Insolvency Professional will be held personally liable for these penalties if the compliance failure stems from their own conduct or negligence.
Download Downloaded : 0 times- Insolvency professional to use Registration Number and Registered Address in all his communications.
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