Committee of Creditors' power to replace an Interim Resolution Professional confirmed, with no vested right to continue in office.

The Committee of Creditors may, under the Insolvency and Bankruptcy Code, appoint the Interim Resolution Professional as Resolution Professional or replace him with another professional when the requisite vote share is obtained. An Interim Resolution Professional has no vested legal interest or enforceable right to continue in office, and cannot challenge the Committee's constitution or decision in the absence of a personal legal right being invaded. On that basis, the appeal was held not maintainable and was dismissed.

---

---

Issues: Whether the appeal against replacement of the Interim Resolution Professional by the Committee of Creditors was maintainable in view of the appellant's alleged lack of locus standi and any vested legal right to continue in office.

Analysis: The Committee of Creditors is empowered under Section 22 of the Insolvency and Bankruptcy Code, 2016 to appoint the Interim Resolution Professional as Resolution Professional or replace him with another Resolution Professional. Once the Committee of Creditors, with the requisite vote share, resolves to replace the Interim Resolution Professional, he has no vested legal interest or enforceable right to insist on continuation. The appellant, being an Interim Resolution Professional and not a stakeholder, could not claim invasion of any legal right, and could not challenge the constitution or decision of the Committee of Creditors in these circumstances.

Conclusion: The appeal was not maintainable and was dismissed.

---