Explore administrative role of Resolution Professionals and Interim Resolution Professionals (RP/IRP) in verifying and evaluating claims in insolvency proceedings. Understand the implications of their actions.
The Act comes in force at once with effect from 21st February, 2019 (Section 1(3)). This will mean that the Ordinance shall not have retrospective application and shall not apply to transactions which have taken place prior to the Act coming in force which shall continue to be governed by the law as it existed prior to the Act coming in force.
