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of <h1>Interim Resolution Professional Appointment Process Under Section 16 of Insolvency and Bankruptcy Code Explained</h1> Section 16 of the Insolvency and Bankruptcy Code, 2016, outlines the appointment and tenure of an interim resolution professional during the corporate insolvency resolution process. The Adjudicating Authority appoints the interim resolution professional on the insolvency commencement date. If the application is by a financial creditor or corporate debtor, the proposed resolution professional is appointed unless disciplinary proceedings are pending. For applications by operational creditors, the Adjudicating Authority may refer to the Board for recommendations. The Board must recommend a professional within ten days, and the interim professional serves until the resolution professional is appointed under Section 22.
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