Q: Who is resolution professional ?

Ans: A Resolution Professional (hereafter, referred to as “RP”) is an insolvency professional who is appointed by the creditors of the company collectively. The RP takes over control of the Corporate Debtor (hereafter, referred to as “CD”) from its management and manages their affairs and takes into custody the assets of the CD. An RP is a professional who has qualified an insolvency course and is registered with the Insolvency and Bankruptcy Board of India ( hereafter, referred to as “IBBI”) and is governed by the IBBI (Insolvency Professional) Regulation, 2016.
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