https://www.taxtmi.com/caselaws?id=281129 Where the Committee of Creditors loses confidence in the existing resolution professional and the insolvency process becomes protracted, the Tribunal may approve substitution, direct handover of records, and require cooperation from the outgoing professional. The outgoing resolution professional remains entitled to reasonable remuneration for statutory work already performed, but the fee and related costs may be revised downward according to the circumstances and the nature of the services rendered. In a delayed matter, the process may also be directed to proceed on a fast track basis, with a time-bound completion period of ninety days from the order. en-us Wed, 25 Jul 2018 00:00:00 +0530 Wed, 05 Jun 2019 06:22:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281129 Where the Committee of Creditors loses confidence in the existing resolution professional and the insolvency process becomes protracted, the Tribunal may approve substitution, direct handover of records, and require cooperation from the outgoing professional. The outgoing resolution professional remains entitled to reasonable remuneration for statutory work already performed, but the fee and related costs may be revised downward according to the circumstances and the nature of the services rendered. In a delayed matter, the process may also be directed to proceed on a fast track basis, with a time-bound completion period of ninety days from the order. Case-Laws Insolvency and Bankruptcy Wed, 25 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281129