Uploaded file: regulations_pdf.

txt
prompt: what are the actions of IRP under the CIRP regulations 16A and 4A.

Response(GPT4): "I have reviewed the document you provided, which contains
regulations related to the Insolvency and Bankruptcy Code. However, it appears that
the specific details for CIRP regulations 16A and 4A, particularly the actions of
the Insolvency Resolution Professional (IRP) under these regulations, were not
found in the visible sections of the document. The document is extensive, and it is
possible that these specific regulations are included in a different part of the
document that was not reviewed.

For accurate information on the actions of IRP under CIRP regulations 16A and 4A, I
recommend consulting the full text of the Insolvency and Bankruptcy Code,
specifically the sections that detail these regulations. Legal databases or
official publications from the Insolvency and Bankruptcy Board of India may also
provide the necessary details. If you have any other specific sections of the
document or queries related to the Insolvency and Bankruptcy Code that you would
like me to assist with, please let me know."

From Abacus.Ai platform

prompt:

Response: "Under the Corporate Insolvency Resolution Process (CIRP) regulations,

the Interim Resolution Professional (IRP) has specific responsibilities under
regulations 16A and 4A.\n\nUnder Regulation 16A, the IRP is responsible for the
application for the appointment of an Authorized Representative (AR). This should
be done within 2 days from the verification of claims received under regulation
12(1). The AR is appointed if necessary, to represent the interests of the
financial creditors in the class in the committee of creditors.\n\nUnder Regulation
4A, which is a sub-regulation of Regulation 36B, the IRP is required to provide
details of the performance security received. This performance security is referred
to in the context of the resolution plan, which is a proposal outlining the process
of the corporate debtor's insolvency resolution. The details of the performance
security received are crucial as they provide an assurance of the commitment of the
resolution applicant to implement the resolution plan."