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The MCA or Ministry of Corporate Affairs received several requests concerning the filing of documents where an Insolvency Professional, Interim Resolution Professional (IRP), Resolution Professional (RP) or Liquidator has been appointed under Insolvency and Bankruptcy Code (IBC), 2016 in respect of a company. To fulfill the demand for statutory compliances by such companies under the Companies Act, 2013 and to enable the compliances of such requirements by such resolution professionals this general circular No. 04/2020 [F. No. 01/02/2019] was issued on 17 February 2020.
To enable compliance by Resolution Professionals, the following procedures shall be followed in respect of all cases:
Also, Read: Role of NCLT in Promoting Interest of Banks and Financial Institution.
MCA21 is an e-Governance initiative by the Ministry of Company Affairs (MCA) which enables easy and secure access of the MCA services to the corporate entities, professionals and the citizens of India. MCA launched MCA21 to improve the mechanism of the regulatory environment in India. The Insolvency Professional or Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator can easily file the documents in the specified procedures for the filing of liquidation proceedings.
Source: MCA Notification
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