Section 86 · Objections by creditor and their examination by resolution professional

(1) Any creditor mentioned in the order of the Adjudicating Authority under section 84 to whom a qualifying debt is owed may, within a period of ten days from the date of receipt of the order under section 84, object only on the following grounds, namely:—

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(a) inclusion of a debt as a qualifying debt; or

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(b) incorrectness of the details of the qualifying debt specified in the order under section 84.

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(2) A creditor may file an objection under sub-section (1) by way of an application to the resolution professional.

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(3) The application under sub-section (2) shall be supported by such information and documents as may be prescribed.

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(4) The resolution professional shall consider every objection made under this section.

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(5) The resolution professional shall examine the objections under sub-section (2) and either accept or reject the objections, within ten days of the date of the application.

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(6) The resolution professional may examine any matter that appears to him to be relevant to the making of a final list of qualifying debts for the purposes of section 92.

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(7) On the basis of the examination under sub-section (5) or sub-section (6), the resolution professional shall—

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(a) prepare an amended list of qualifying debts for the purpose of the discharge order;

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(b) make an application to the Adjudicating Authority for directions under section 90; or

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(c) take such other steps as he considers necessary in relation to the debtor.

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