(1) The debtor shall prepare, in consultation with the resolution professional, a repayment plan containing a proposal to the creditors for restructuring of his debts or affairs.
(2) The repayment plan may authorise or require the resolution professional to-
(a) carry on the debtor's business or trade on his behalf or in his name; or
(b) realise the assets of the debtor; or
(c) administer or dispose of any funds of the debtor.
(3) The repayment plan shall include the following, namely:-
(a) justification for preparation of such repayment plan and reasons on the basis of which the creditors may agree upon the plan;
(b) provision for payment of fee to the resolution professional;
(c) such other matters as may be specified.
Insolvency and Bankruptcy Code 2016
Section 102 Public notice and claims from creditors
Section 103 Registering of claims by creditors
Section 104 Preparation of list of creditors
Section 106 Report of resolution professional on repayment plan
Section 107 Summoning of meeting of creditors
Section 108 Conduct of meeting of creditors
Section 109 Voting rights in meeting of creditors
Section 110 Rights of secured creditors in relation to repayment plan