Management of affairs of corporate debtor by interim resolution professional
Section 17 of the Insolvency and Bankruptcy Code, 2016 deals with management of affairs of corporate debtor by interim resolution professional. From the date of appointment of the interim resolution professional,--- (a) the management of the affairs of the corporate debtor shall vest in the interim resolution professional; The Act was enacted on 28 May 2016.
(1) From the date of appointment of the interim resolution professional,---
(a) the management of the affairs of the corporate debtor shall vest in the interim resolution professional;
(b) the powers of the board of directors or the partners of the corporate debtor, as the case may be, shall stand suspended and be exercised by the interim resolution professional;
(c) the officers and managers of the corporate debtor shall report to the interim resolution professional and provide access to such documents and records of the corporate debtor as may be required by the interim resolution professional;
(d) the financial institutions maintaining accounts of the corporate debtor shall act on the instructions of the interim resolution professional in relation to such accounts and furnish all information relating to the corporate debtor available with them to the interim resolution professional.
(2) The interim resolution professional vested with the management of the corporate debtor shall---
(a) act and execute in the name and on behalf of the corporate debtor all deeds, receipts, and other documents, if any;
(b) take such actions, in the manner and subject to such restrictions, as may be specified by the Board;
(c) have the authority to access the electronic records of corporate debtor from information utility having financial information of the corporate debtor;
(d) have the authority to access the books of account, records and other relevant documents of corporate debtor available with government authorities, statutory auditors, accountants and such other persons as 1[may be specified; and].
2[(e) be responsible for complying with the requirements under any law for the time being in force on behalf of the corporate debtor.].
Section 17, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 17
What does Section 17 of the Insolvency and Bankruptcy Code deal with?
Section 17 of the Insolvency and Bankruptcy Code is headed "Management of affairs of corporate debtor by interim resolution professional". From the date of appointment of the interim resolution professional,--- (a) the management of the affairs of the corporate debtor shall vest in the interim resolution professional;
How do I find court cases under Section 17 of the Insolvency and Bankruptcy Code?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Insolvency and Bankruptcy Code 17, section 17 Insolvency and Bankruptcy Code, section 17 of the Insolvency and Bankruptcy Code. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 17 of the Insolvency and Bankruptcy Code, and has it changed?
2 other provisions in this corpus refer back to it.
When was Section 17 of the Insolvency and Bankruptcy Code enacted?
Section 17 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 17, was enacted on 28 May 2016 as Act 31 of 2016. It is in force as at the date shown on this page.
Other sections of this Act
- 240. Power to make regulations2349 words
- 5. Definitions2326 words
- 3. Definitions1381 words
- 29A. Person not eligible to be resolution applicant1152 words
- 239. Power to make rules963 words
- 196. Powers and functions of Board942 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.