https://www.taxtmi.com/acts?id=31125 Replacement of a bankruptcy trustee allows the Committee of Creditors to propose substitution by a prescribed supermajority and apply to the Adjudicating Authority, which directs the Board to recommend a successor against whom no disciplinary proceedings are pending; the Authority then appoints the recommended trustee, the outgoing trustee must deliver possession and share information, the replaced trustee is released per statutory provision, and the new trustee must notify the bankrupt within seven days. en-us Tue, 02 Jan 2018 16:09:20 +0530 Fri, 06 Dec 2019 12:35:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31125 Replacement of a bankruptcy trustee allows the Committee of Creditors to propose substitution by a prescribed supermajority and apply to the Adjudicating Authority, which directs the Board to recommend a successor against whom no disciplinary proceedings are pending; the Authority then appoints the recommended trustee, the outgoing trustee must deliver possession and share information, the replaced trustee is released per statutory provision, and the new trustee must notify the bankrupt within seven days. Act-Rules IBC Tue, 02 Jan 2018 16:09:20 +0530 https://www.taxtmi.com/acts?id=31125