Eligibility for resolution professional.

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....ion professional, as the case may be,] for a corporate insolvency resolution process of a corporate debtor if he, and all partners and directors of the insolvency professional entity of which he is a partner or director, are independent of the corporate debtor. Explanation- A person shall be considered independent of the corporate debtor, if he: (a) is eligible to be appointed as an in....

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....tion professional as the resolution professional, the interim resolution professional shall intimate such decision to the corporate debtor, the Board and the Adjudicating Authority, within three days of the date of such resolution. (1B) Where the committee decides to replace the interim resolution professional under section 22 or replace the resolution professional under section 27, it shall ob....

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....ution process.]     **************** NOTES:- 1. Substituted vide Notification No. IBBI/2017-18/GN/REG030 dated 27-03-2018 before it was read as, "company secretaries" 2. Substituted vide Notification No. IBBI/2018-19/GN/REG031 dated 03-07-2018 before it was read as, "ten per cent" 3.  Inserted vide Notification No. IBBI/2018-19/GN/REG031 ....

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....lution process." 7.  Substituted vide Notification No. IBBI/2022-23/GN/REG091 dated 13-09-2022 before it was read as, "Schedule" 8.  Omitted vide F. No. IBBI/2026-27/GN/REG152 dated 01-06-2026 w.e.f. 02-06-2026 before it was read as, "^3[(1A) Where the committee decides to appoint the interim resolution professional as resolution professional or replace the inte....