Insolvency and Bankruptcy Board of India vide circular dated 12th February, 2024 clarification regarding Sharing of the Report prepared by the Resolution Professional to both debtor and creditor. It has been observed that in certain cases, the RPs have not shared a copy of the report with both debtor and creditor, leading to a lack of equal information access among them.
Therefore, it is advised that the RP shall provide a copy of the report to both debtor and creditor in all cases. This will ensure that the debtor and the creditor are well-informed about the evaluation and recommendations made by the RP, thereby promoting transparency and informed decision-making.
