17. (1) From the date of appointment of the interim resolution
professional,-
(a) the management of the affairs of the corporate debtor shall vest in the
interim resolution professional;
(b) the powers of the board of directors or the partners of the corporate
debtor, as the case may be, shall stand suspended and be exercised by the
interim resolution
professional
(c) the officers and managers of the corporate debtor shall report to the
interim resolution professional and provide access to such documents and
records of the
corporate debtor as may be required by the interim resolution professional;
(d) the financial institutions maintaining accounts of the corporate debtor
shall act on the instructions of the interim resolution professional in
relation to such accounts and furnish all information relating to the
corporate debtor available with them to the interim resolution professional.
(2) The interim resolution professional vested with the management of the
corporate debtor shall-
(a) act and execute in the name and on behalf of the corporate debtor all
deeds, receipts, and other documents, if any;
(b) take such actions, in the manner and subject to such restrictions, as
may be specified by the Board;
(c) have the authority to access the electronic records of corporate debtor
from information utility having financial information of the corporate
debtor;
(d) have the authority to access the books of account, records and other
relevant documents of corporate debtor available with government
authorities, statutory auditors, accountants and such other persons as may
be specified.