https://www.taxtmi.com/caselaws?id=304270 An application seeking replacement of a Resolution Professional under sections 22(2) and 27(2) of the Insolvency and Bankruptcy Code was not maintainable without a valid Committee of Creditors resolution authorising such replacement. The tribunal treated allegations against the Resolution Professional, prior voting strength, and challenges relating to fraud or limitation as irrelevant where the application was confined only to replacement. It also noted that the applicant's voting share had changed after reconstitution of the Committee of Creditors, and that the correctness of that reconstitution was not examined in the proceeding. The application was therefore liable to be dismissed. en-us Tue, 26 May 2020 00:00:00 +0530 Sat, 17 Sep 2022 07:56:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304270 An application seeking replacement of a Resolution Professional under sections 22(2) and 27(2) of the Insolvency and Bankruptcy Code was not maintainable without a valid Committee of Creditors resolution authorising such replacement. The tribunal treated allegations against the Resolution Professional, prior voting strength, and challenges relating to fraud or limitation as irrelevant where the application was confined only to replacement. It also noted that the applicant's voting share had changed after reconstitution of the Committee of Creditors, and that the correctness of that reconstitution was not examined in the proceeding. The application was therefore liable to be dismissed. Case-Laws Insolvency and Bankruptcy Tue, 26 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304270