https://www.taxtmi.com/article/detailed?id=9405 The Code requires appointment of an interim resolution professional on the insolvency commencement date and continuity of the IRP until a resolution professional is appointed under section 22; the committee of creditors may confirm or replace the IRP. While the Code lacks an explicit provision empowering Adjudicating Authorities to replace an IRP, eligibility hinges on independence and absence of disciplinary proceedings. The Appellate Tribunal held that pension receipt alone does not disqualify an IRP, but upheld substitution where the corporate debtor's apprehension of bias was justified by the nominee's past long association with the proposing creditor. en-us Sat, 08 Aug 2020 08:35:44 +0530 Sat, 08 Aug 2020 08:35:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9405 The Code requires appointment of an interim resolution professional on the insolvency commencement date and continuity of the IRP until a resolution professional is appointed under section 22; the committee of creditors may confirm or replace the IRP. While the Code lacks an explicit provision empowering Adjudicating Authorities to replace an IRP, eligibility hinges on independence and absence of disciplinary proceedings. The Appellate Tribunal held that pension receipt alone does not disqualify an IRP, but upheld substitution where the corporate debtor's apprehension of bias was justified by the nominee's past long association with the proposing creditor. Articles Corporate Laws / IBC / SEBI Sat, 08 Aug 2020 08:35:44 +0530 https://www.taxtmi.com/article/detailed?id=9405