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Introduction Insolvency and Bankruptcy Code, 2016 (IBC) has revolutionised the insolvency and bankruptcy laws in India. It has brought a much needed reform in the insolvency and bankruptcy resolution process in the country. The Code was enacted to consolidate and amend the existing laws related to insolvency and bankruptcy resolution. The Insolvency and Bankruptcy Board of India (IBBI) is the regulator of the insolvency and bankruptcy resolution process in the country. The Code provides a framework for the insolvency resolution process and also provides for certain regulations related to the same. One of the important aspects of the insolvency resolution process is the role of the Insolvency Resolution Professional (IRP). This article will discuss the role of IRP in the liquidation process under IBC. Role of IRP in Liquidation Process The Insolvency and Bankruptcy Code, 2016 (IBC) provides for the appointment of an Insolvency Resolution Professional (IRP) to manage and supervise the insolvency resolution process. The IRP is appointed by the Insolvency and Bankruptcy Board of India (IBBI) and is responsible for overseeing the insolvency resolution process. The IRP is responsible for preparing and submitting a resolution plan to the creditors and the adjudicating authority, as well as monitoring the implementation of the resolution plan. In the event that the insolvency resolution process fails, the IRP is responsible for initiating the liquidation process. The liquidation process is the process of winding up the affairs of the company and converting the assets of the company into money to be distributed among the creditors. The IRP is responsible for overseeing the entire liquidation process. The IRP is responsible for preparing an inventory of the assets of the company and determining their value. The IRP is also responsible for notifying the creditors of the liquidation process and ensuring that their claims are taken into account. The IRP is also responsible for ensuring that the assets of the company are valued correctly and that the creditors are paid in accordance with the priority of their claims. The IRP is also responsible for ensuring that the liquidation process is carried out in a transparent manner and that the creditors are kept informed throughout the process. The IRP is also responsible for ensuring that all the debts of the company are discharged and that the assets of the company are distributed in accordance with the law. Conclusion The Insolvency and Bankruptcy Code, 2016 (IBC) has transformed the insolvency and bankruptcy laws in India. The Code has provided an effective framework for the insolvency resolution process. The Code also provides for the appointment of an Insolvency Resolution Professional (IRP) to oversee and manage the insolvency resolution process. The IRP is responsible for ensuring that the insolvency resolution process is carried out in a transparent manner and that the creditors are kept informed throughout the process. In the event that the insolvency resolution process fails, the IRP is responsible for initiating the liquidation process. The IRP is responsible for overseeing the entire liquidation process and ensuring that the assets of the company are valued correctly and that the creditors are paid in accordance with the priority of their claims.