25. (1) It shall be the duty of the resolution professional to preserve
and protect the assets of the corporate debtor, including the continued
business operations of the corporate debtor.
(2) For the purposes of sub-section (1), the resolution professional shall
undertake the following actions, namely:-
(a) take immediate custody and control of all the assets of the corporate
debtor, including the business records of the corporate debtor;
(b) represent and act on behalf of the corporate debtor with third parties,
exercise rights for the benefit of the corporate debtor in judicial,
quasi-judicial or arbitration proceedings;
(c) raise interim finances subject to the approval of the committee of
creditors under section 28;
(d) appoint accountants, legal or other professionals in the manner as
specified by Board;
(e) maintain an updated list of claims;
(f) convene and attend all meetings of the committee of creditors;
(g) prepare the information memorandum in accordance with section 29;
(h) invite prospective lenders, investors, and any other persons to put
forward resolution plans;
(i) present all resolution plans at the meetings of the committee of
creditors;
(j) file application for avoidance of transactions in accordance with
Chapter III, if any; and
(k) such other actions as may be specified by the Board.