TaxTMI Login
AI Drafter - (New and Powerful) ✕
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Just a moment...
AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether an application seeking replacement of the Resolution Professional is maintainable without a supporting resolution of the Committee of Creditors under sections 22(2) or 27(2) of the Insolvency and Bankruptcy Code, 2016.
Analysis: The application was founded on allegations against the Resolution Professional and on the applicant's earlier voting strength, but no resolution of the Committee of Creditors had been passed authorising replacement. The voting share had also changed after reconstitution of the Committee of Creditors, and the correctness of such reconstitution was not examined in this proceeding. The objection regarding alleged fraud, limitation, and other challenges to the claim admitted by the Resolution Professional were held to be irrelevant to an application confined to replacement under sections 22(2) and 27(2). The statutory scheme required the requisite Committee of Creditors decision before such relief could be entertained.
Conclusion: The application for replacement of the Resolution Professional was not maintainable and was liable to be dismissed.
Ratio Decidendi: Replacement of a Resolution Professional under sections 22(2) and 27(2) of the Insolvency and Bankruptcy Code, 2016 cannot be ordered in the absence of a valid resolution of the Committee of Creditors supporting such replacement.
TaxTMI 
