TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 98: Steps to Replace a Resolution Professional in Insolvency Cases Explained</h1> Section 98 of the Insolvency and Bankruptcy Code, 2016, outlines the procedure for replacing a resolution professional during the insolvency resolution process. If a debtor or creditor believes the current resolution professional should be replaced, they may apply to the Adjudicating Authority. The Authority must then refer the matter to the Board within seven days. The Board has ten days to recommend a new resolution professional without pending disciplinary actions. Creditors can also initiate this process through a meeting decision. Upon application approval, the Board confirms or rejects the proposed professional, and the Authority appoints a new one, ensuring cooperation between the outgoing and incoming professionals.
TaxTMI 
TaxTMI 
