Interim Resolution Professional (IRP)

Q: What does the IRP do first?

On appointment the IRP takes control of the corporate debtor, makes a public announcement inviting claims, begins receiving and verifying them, works to preserve assets and operations, and forms the Committee of Creditors from the verified claims.

Q: What is the difference between an IRP and an RP?

The IRP manages the first phase after admission and constitutes the Committee of Creditors, which then decides whether to continue with the same person as Resolution Professional or appoint another. The RP conducts the substantive resolution process.

Q: Who can act as an IRP?

Only a registered Insolvency Professional - registered with the Insolvency and Bankruptcy Board of India and enrolled with an Insolvency Professional Agency - can act as an IRP, discharging the role in accordance with the IBC and applicable regulations.

Steady, Compliant Management of a Corporate Debtor in the Critical Early Stage of Insolvency

When the National Company Law Tribunal admits a company into the corporate insolvency resolution process, an Interim Resolution Professional (IRP) is appointed to take charge in that critical opening phase. The IRP steps into the management of the corporate debtor, takes control of its assets and records, makes a public announcement inviting claims, collates those claims, and constitutes the Committee of Creditors. This early stewardship sets the foundation for the entire resolution process.

Our Interim Resolution Professional services are provided by a registered Insolvency Professional who takes on this role with diligence, impartiality, and strict adherence to the IBC. We stabilise the situation, protect the debtor's assets, and get the process properly under way. This role connects directly with the Resolution Professional stage, our overall insolvency services, and demand notice consultation for creditors.

Our IRP Services

Taking Control

Assuming management of the corporate debtor and control of its assets and records.

Public Announcement

Making the public announcement and inviting claims from creditors.

Claims Collation

Receiving, verifying, and collating the claims submitted by creditors.

Committee of Creditors

Constituting the Committee of Creditors (CoC) as required under the Code.

Asset Protection

Preserving and protecting the assets and going concern of the debtor.

Compliance & Reporting

Ensuring compliance with the IBC and reporting to the adjudicating authority.

Benefits of a Diligent IRP

Stable, impartial management from the outset of the process
Protection and preservation of the corporate debtor's assets
Proper collation of creditor claims and constitution of the CoC
Strict adherence to the IBC and timelines
A sound foundation for the resolution process to follow
Transparent conduct and reporting to stakeholders and the tribunal

Frequently Asked Questions

What is an Interim Resolution Professional (IRP)?

An IRP is a registered Insolvency Professional appointed when a company is admitted into the corporate insolvency resolution process. The IRP takes over the management of the corporate debtor for the initial period, takes control of its assets and records, invites and collates creditor claims, and constitutes the Committee of Creditors.

What does the IRP do first?

On appointment, the IRP typically takes control of the corporate debtor, makes a public announcement of the commencement of insolvency inviting claims, begins receiving and verifying those claims, and works to preserve the debtor's assets and operations. A central early task is forming the Committee of Creditors from the verified claims.

What is the difference between an IRP and an RP?

The IRP manages the very first phase after admission and constitutes the Committee of Creditors. The Committee then decides whether to continue with the same person as Resolution Professional (RP) or appoint another. The RP conducts the substantive resolution process. The roles are sequential stages of the same overall process.

Who can act as an IRP?

Only a registered Insolvency Professional — a person registered with the Insolvency and Bankruptcy Board of India and enrolled with an Insolvency Professional Agency — can act as an IRP. The role carries significant legal responsibilities and must be discharged in accordance with the IBC and applicable regulations.

How does the IRP protect creditors' interests?

By taking impartial control, preserving assets, transparently inviting and verifying claims, and constituting the Committee of Creditors, the IRP ensures the process starts fairly and that creditors' claims are properly recorded. This protects the value available for resolution and gives creditors a structured voice through the CoC.

Steady Hands from Day One

Interim Resolution Professional services delivered by a registered Insolvency Professional under the IBC.