https://www.taxtmi.com/caselaws?id=408680 The Tribunal allowed the application to replace the Interim Resolution Professional (IRP) with the proposed Resolution Professional (RP) based on the Committee of Creditors' (CoC) decision supported by over 66% voting share. The objections raised by financial creditors were dismissed, emphasizing the CoC's authority in commercial decision-making. Mr. Ayyagari Viswanadha Sarma was approved as the RP, and the IRP was directed to transfer all records and assets to the new RP. The application was disposed of with these directions, recognizing the CoC's resolution as a valid commercial decision. en-us Wed, 09 Jun 2021 00:00:00 +0530 Fri, 18 Jun 2021 08:12:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408680 The Tribunal allowed the application to replace the Interim Resolution Professional (IRP) with the proposed Resolution Professional (RP) based on the Committee of Creditors' (CoC) decision supported by over 66% voting share. The objections raised by financial creditors were dismissed, emphasizing the CoC's authority in commercial decision-making. Mr. Ayyagari Viswanadha Sarma was approved as the RP, and the IRP was directed to transfer all records and assets to the new RP. The application was disposed of with these directions, recognizing the CoC's resolution as a valid commercial decision. Case-Laws Insolvency and Bankruptcy Wed, 09 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408680