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of <h1>Committee of Creditors Can Replace Resolution Professional with 66% Vote, Requires Proposed RP's Consent Under Section 22.</h1> During the Corporate Insolvency Resolution Process, the Committee of Creditors (CoC) can replace the Resolution Professional (RP) appointed under Section 22 if deemed necessary. This requires a 66% voting share and the consent of the proposed RP. The CoC must forward the proposed RP's name to the Adjudicating Authority (AA), which then forwards it to the Board for confirmation. If disciplinary proceedings are pending against the proposed RP, the current RP continues until a new appointment. Case law indicates that the CoC's decision to replace an RP is generally respected unless shown to be perverse or without jurisdiction.
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