each member of the committee within two weeks of his appointments as resolution professional; and

each prospective resolution applicant latest by the date of invitation of resolution plan under clause (h) of sub-section (2) of section 25 of the code.]

(2)

The information memorandum shall contain the following details of the corporate debtor-

(a) [ assets and liabilities with such description, as on the insolvency commencement date, as are generally necessary for ascertaining their values; [Substituted by Notification No. IBBI/2017-18/GN/REG 025, dated 7.2.2018 (w.e.f. 14.6.2017)]

(b) the latest annual financial statements;

(c) audited financial statements of the corporate debtor for the last two financial years and provisional financial statements for the current financial year made up to a date not earlier than fourteen days from the date of the application;

(d) a list of creditors containing the names of creditors, the amounts claimed by them, the amount of their claims admitted and the security interest, if any, in respect of such claims;

(e) particulars of a debt due from or to the corporate debtor with respect to related parties;

(f) details of guarantees that have been given in relation to the debts of the corporate debtor by other persons, specifying which of the guarantors is a related party;

(g) the names and addresses of the members or partners holding at least one per cent stake in the corporate debtor along with the size of stake;

(h) details of all material litigation and an ongoing investigation or proceeding initiated by Government and statutory authorities;

(i) the number of workers and employees and liabilities of the corporate debtor towards them;

(j) [ ***] [Omitted by Notification No. IBBI/2017-18/GN/REG23, dated 31.12.2017 (w.e.f. 14.6.2017)]

(k) [ ***] [Omitted by Notification No. IBBI/2017-18/GN/REG23, dated 31.12.2017 (w.e.f. 14.6.2017)]

(l) other information, which the resolution professional deems relevant to the committee.

(3)

A member of the committee may request the resolution professional for further information of the nature described in this regulation and the resolution professional shall provide such information to all members within reasonable time if such information has a bearing on the resolution plan.

(4)

[ The resolution professional shall share the information memorandum after receiving an undertaking from a member of the committee or a prospective resolution applicant to the effect that such member or resolution applicant shall maintain confidentiality of the information and shall not use such information to cause and undue gain or undue loss to itself or any other person and comply with the requirements under sub-section (2) of section 29.] [Substituted by Notification No. IBBI/2017-18/GN/REG 025, dated 7.2.2018 (w.e.f. 14.6.2017)]