(1) The resolution professional shall within fourteen days of the completion of the repayment plan, forward to the persons who are bound by the repayment plan under section 115 and the Adjudicating Authority, the following documents, namely:-
(a) a notice that the repayment plan has been fully implemented; and
(b) a copy of a report by the resolution professional summarising all receipts and payments made in pursuance of the repayment plan and extent of the implementation of such plan as compared with the repayment plan approved by the meeting of the creditors.
(2) The resolution professional may apply to the Adjudicating Authority to extend the time mentioned in sub-section (1) for such further period not exceeding seven days.
Insolvency and Bankruptcy Code 2016
Section 111 Approval of repayment plan by creditors
Section 112 Report of meeting of creditors on repayment plan
Section 113 Notice of decisions taken at meeting of creditors
Section 114 Order of Adjudicating Authority on repayment plan
Section 115 Effect of order of Adjudicating Authority on repayment plan
Section 116 Implementation and supervision of repayment plan
Section 117 Completion of repayment plan
Section 118 Repayment plan coming to end prematurely