Resolution professional eligibility requires independence from the guarantor, absence of disciplinary restraint, and prior written consent.

An insolvency professional may be appointed as resolution professional only if the professional and the associated insolvency professional entity are independent of the guarantor, there is no pending disciplinary proceeding or restraint order, and neither the entity nor its partners or directors represent any party in the resolution process. Independence requires that the person is not an associate of the guarantor or a related party of the corporate debtor. A separate written consent in the form notified by the Board must be furnished before appointment.

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