Liquidator replacement in liquidation process requires creditor approval, written consent, and appointment by the Adjudicating Authority. Replacement of a liquidator during the liquidation process may be initiated by the committee of creditors if it considers that the liquidator appointed under section 34 or under this provision should be replaced. Such replacement requires a resolution supported by not less than sixty-six per cent of the voting share and is subject to the written consent of the proposed replacement, in the prescribed form. The committee of creditors must then apply to the Adjudicating Authority for appointment of the proposed liquidator.