During a corporate insolvency resolution process, on what basis must the interim resolution professional manage the operations of the corporate debtor under section 20(1) of the Insolvency and…

Section 20(1) of the Insolvency and Bankruptcy Code, 2016 requires the interim resolution professional to protect and preserve the value of the corporate debtor’s property and manage its operations as a going concern; the resolution professional carries on the same duty under section 23. The powers of the board stand suspended on the professional’s appointment under section 17, so the board does not keep control.