A Virtual Data Room can be very effective for any transaction where confidentiality and security of data are the concern. In this blog, we will discuss about best virtual data room provider in India for IBBI functioning.
Insolvency and Bankruptcy Board of India deal with this concern a lot and dataroom solutions have been useful to carry out a lot of transactions in the last few years.
The copy of acceptance of the Process Note by the prospective Resolution Applicant seems to be accepted by the access to the virtual data room in India. Here now the prospective Resolution Professional forms an integral part of this Process Note.
Procedure Involved
If their professional advisors do not verify such information or are unwilling to accept the liability, the prospective Resolution Applicant must conduct its own assessments and due diligence on the information supply in the Information Memorandum or the Virtual Data Room.
Role of Resolution Professional and Resolution Applicant in Dataroom for IBBI Functioning
So, the access to and usage of the information in the Data Room by the prospective Resolution Applicants shall as per the rules & conditions as set out, be subject to verification of undertakings submitted.
However, the Resolution Professional may, in a suitable instance and at his discretion, provide a revision to the clarification issued with the CoC’s approval, if necessary. No requests for clarification changes.
You may find many Virtual Data Rooms providers in India for IBBI Functioning but choosing the best among them is quite a task. As well as, FirmsData Virtual Data Room is one of the best VDR providers in India and it comes out clean with its client compliance & security features.
