https://www.taxtmi.com/caselaws?id=782700 The Appellate Tribunal held that under Sec. 34(1) read with Sec. 34(4)(c) of the IBC, only the CoC is competent to select the replacement RP to act as liquidator, while the Adjudicating Authority's role is confined to formal appointment of the RP so chosen, subject to confirmation by the Board as per Sec. 27. The Adjudicating Authority has no independent power to appoint a liquidator of its own choice. On the facts, the CoC validly resolved to replace the existing RP and nominate a new entity as liquidator, subject to Board confirmation. Orders of the Adjudicating Authority were set aside and the appeal was allowed. en-us Mon, 01 Dec 2025 00:00:00 +0530 Wed, 03 Dec 2025 08:57:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782700 The Appellate Tribunal held that under Sec. 34(1) read with Sec. 34(4)(c) of the IBC, only the CoC is competent to select the replacement RP to act as liquidator, while the Adjudicating Authority's role is confined to formal appointment of the RP so chosen, subject to confirmation by the Board as per Sec. 27. The Adjudicating Authority has no independent power to appoint a liquidator of its own choice. On the facts, the CoC validly resolved to replace the existing RP and nominate a new entity as liquidator, subject to Board confirmation. Orders of the Adjudicating Authority were set aside and the appeal was allowed. Case-Laws IBC Mon, 01 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782700