What is irp stage 1?

The insolvency resolution process (IRP) is a one under the Insolvency and Bankruptcy Code, 2016, where the National Company Law Tribunal (NCLT) initiates a corporate insolvency resolution process (CIRP) when a company defaults on making payment to creditors. This process happens in stages. insolvency resolution process (IRP) as per the Insolvency and. Accordingly, the list of securities undergoing IRP as per IBC shall be available on the exchange's website. Stage 1: Complete the Graduate Insolvency Programme (GIP). An interim resolution professional (IRP) appointed for the homestay.