https://www.taxtmi.com/caselaws?id=426820 The application for the replacement of the Interim Resolution Professional (IRP) was allowed by the Tribunal. Mr. Anil Arora was appointed as the new IRP following the surrender of the license by the previous IRP. The Tribunal emphasized compliance with the Code and rules governing the profession of the IRP, directing Mr. Arora to assume powers over the Corporate Debtor's management. Specific directives were given to Mr. Arora, including preparing an asset inventory, following ethical standards, and forming a Committee of Creditors. The petitioner was instructed to deposit funds for immediate expenses, to be reimbursed by the Committee of Creditors. 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 The application for the replacement of the Interim Resolution Professional (IRP) was allowed by the Tribunal. Mr. Anil Arora was appointed as the new IRP following the surrender of the license by the previous IRP. The Tribunal emphasized compliance with the Code and rules governing the profession of the IRP, directing Mr. Arora to assume powers over the Corporate Debtor's management. Specific directives were given to Mr. Arora, including preparing an asset inventory, following ethical standards, and forming a Committee of Creditors. The petitioner was instructed to deposit funds for immediate expenses, to be reimbursed by the Committee of Creditors. Case-Laws Insolvency and Bankruptcy Wed, 24 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426820