https://www.taxtmi.com/caselaws?id=297272 The National Company Law Appellate Tribunal directed the Adjudicating Authority to appoint a new Interim Resolution Professional (IRP) within 10 days in a Corporate Insolvency Resolution Process (CIRP) case under the Insolvency and Bankruptcy Code, 2016. The delay in appointing a new IRP allowed the promoter to continue managing the Corporate Debtor, potentially benefiting from the situation. The judgment emphasized the importance of timely resolution processes and compliance in insolvency proceedings, warning of contempt action against the IRP who refused the appointment. en-us Mon, 08 Mar 2021 00:00:00 +0530 Wed, 25 Aug 2021 09:07:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297272 The National Company Law Appellate Tribunal directed the Adjudicating Authority to appoint a new Interim Resolution Professional (IRP) within 10 days in a Corporate Insolvency Resolution Process (CIRP) case under the Insolvency and Bankruptcy Code, 2016. The delay in appointing a new IRP allowed the promoter to continue managing the Corporate Debtor, potentially benefiting from the situation. The judgment emphasized the importance of timely resolution processes and compliance in insolvency proceedings, warning of contempt action against the IRP who refused the appointment. Case-Laws Insolvency and Bankruptcy Mon, 08 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297272