Appointment of Resolution Professional: committee of creditors' supermajority and written consent govern continuation or replacement of interim professional. Section 22 requires the committee of creditors to decide by the requisite voting share whether to confirm the interim resolution professional as resolution professional or to replace them; such decision requires written consent from the person proposed to act as RP, must be communicated to relevant parties or filed with the Adjudicating Authority when replacement is proposed, and the Adjudicating Authority forwards the proposed name to the Board for confirmation, with the interim professional continuing if Board confirmation is delayed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Appointment of Resolution Professional: committee of creditors' supermajority and written consent govern continuation or replacement of interim professional.
Section 22 requires the committee of creditors to decide by the requisite voting share whether to confirm the interim resolution professional as resolution professional or to replace them; such decision requires written consent from the person proposed to act as RP, must be communicated to relevant parties or filed with the Adjudicating Authority when replacement is proposed, and the Adjudicating Authority forwards the proposed name to the Board for confirmation, with the interim professional continuing if Board confirmation is delayed.
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