https://www.taxtmi.com/caselaws?id=426820 In a corporate insolvency resolution process, the NCLT allowed substitution of the interim resolution professional after the earlier proposed professional withdrew consent and the previously appointed IRP was unavailable. The Tribunal treated the request as maintainable under Rule 11 of the NCLT Rules and noted that the newly selected insolvency professional showed no adverse material and was required to comply with the prescribed code of conduct before consenting. It appointed the new IRP and issued consequential directions on filing consent, public announcement, management of the corporate debtor, constitution of the committee of creditors, and reporting obligations. en-us Wed, 24 Aug 2022 00:00:00 +0530 Fri, 26 Aug 2022 08:36:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426820 In a corporate insolvency resolution process, the NCLT allowed substitution of the interim resolution professional after the earlier proposed professional withdrew consent and the previously appointed IRP was unavailable. The Tribunal treated the request as maintainable under Rule 11 of the NCLT Rules and noted that the newly selected insolvency professional showed no adverse material and was required to comply with the prescribed code of conduct before consenting. It appointed the new IRP and issued consequential directions on filing consent, public announcement, management of the corporate debtor, constitution of the committee of creditors, and reporting obligations. Case-Laws Insolvency and Bankruptcy Wed, 24 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426820