BIG ISSUES FACING INSOLVENCY PROFESSIONALS...

Lack of experience in running companies. Usually have accounting, consultancy and legal background

Promoters making back-door entry into companies after the board is dissolved by re-designating themselves from board position to executive position

Existing managements not guiding or cooperating with the professionals

NCLT taking time to decide applications for non-cooperation by managements

Many unlisted companies have not filed balance sheets

Compliance issues related to listed entities

Delay in appointing interim resolution professionals (IRPs) in an operational creditor backed bankruptcy

Operational creditors settling cases with promoters without informing insolvency professionals