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Section 34 treats continuation of the resolution professional as...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of valid prior liquidation steps.
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Section 34 treats continuation of the resolution professional as liquidator as the default position, while replacement is limited to specified statutory grounds. A Committee of Creditors' unanimous recommendation for a liquidator is material and requires consideration; a general bar on appointing an erstwhile interim or resolution professional is not supported where the underlying facts do not apply. Appointment also requires verification of a valid and subsisting Authorisation for Assignment before charge is assumed. Routine liquidation steps taken by an incumbent may remain effective, while the outgoing liquidator may receive costs and fees for work genuinely performed.
Section 34 treats continuation of the resolution professional as liquidator as the default position, while replacement is limited to specified statutory grounds. A Committee of Creditors' unanimous recommendation for a liquidator is material and requires consideration; a general bar on appointing an erstwhile interim or resolution professional is not supported where the underlying facts do not apply. Appointment also requires verification of a valid and subsisting Authorisation for Assignment before charge is assumed. Routine liquidation steps taken by an incumbent may remain effective, while the outgoing liquidator may receive costs and fees for work genuinely performed.
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