https://www.taxtmi.com/caselaws?id=753527 NCLT New Delhi replaced the Resolution Professional in a personal guarantor insolvency case. The Tribunal held that under Sections 102-112 of IBC 2016, the RP cannot bring lawyers when meeting the personal guarantor during repayment plan preparation under Section 105. The repayment plan must be prepared by the debtor who consults the RP, not vice versa. Without proper authorization under Section 105(2), the RP cannot rely on Regulation 18 powers. The original RP was replaced with a new appointee to discharge functions afresh per the Tribunal's earlier order. en-us Mon, 27 May 2024 00:00:00 +0530 Wed, 05 Jun 2024 08:14:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753527 NCLT New Delhi replaced the Resolution Professional in a personal guarantor insolvency case. The Tribunal held that under Sections 102-112 of IBC 2016, the RP cannot bring lawyers when meeting the personal guarantor during repayment plan preparation under Section 105. The repayment plan must be prepared by the debtor who consults the RP, not vice versa. Without proper authorization under Section 105(2), the RP cannot rely on Regulation 18 powers. The original RP was replaced with a new appointee to discharge functions afresh per the Tribunal's earlier order. Case-Laws Insolvency and Bankruptcy Mon, 27 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753527