https://www.taxtmi.com/caselaws?id=433861 The Tribunal held that the Committee of Creditors (CoC) had the right to replace the Resolution Professional (RP) in conformity with the Insolvency and Bankruptcy Code (IBC) provisions. The CoC's decision to replace the RP was found to be valid, and the Adjudicating Authority's rejection of the application for replacement was deemed a jurisdictional transgression. The impugned order was set aside, allowing the replacement of the RP and directing the CoC to consider any claims for fees and costs submitted by the former RP promptly. en-us Thu, 09 Feb 2023 00:00:00 +0530 Sat, 11 Feb 2023 09:43:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433861 The Tribunal held that the Committee of Creditors (CoC) had the right to replace the Resolution Professional (RP) in conformity with the Insolvency and Bankruptcy Code (IBC) provisions. The CoC's decision to replace the RP was found to be valid, and the Adjudicating Authority's rejection of the application for replacement was deemed a jurisdictional transgression. The impugned order was set aside, allowing the replacement of the RP and directing the CoC to consider any claims for fees and costs submitted by the former RP promptly. Case-Laws Insolvency and Bankruptcy Thu, 09 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433861