9911796707
TMI BlogAppointment and tenure of interim resolution professional [ Section 16 ]X X X X Extracts X X X X X X X X Extracts X X X X ..... or section 9 or section 10, shall, by an order- (c) appoint an interim resolution professional in the manner as laid down in section 16. Appointment and tenure of Interim Resolution Professional (IRP) [ Section 16 ] Appointment of Insolvency of Resolution Professional [ Section 16(1) ] The Adjudicating Authority shall appoint an interim resolution prof ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rence to the Board for the recommendation of an insolvency professional who may act as an interim resolution professional; (b) a proposal for an interim resolution professional is made under sub-section (4) of section 9, the resolution professional as proposed, shall be appointed as the interim resolution professional, if no disciplinary proceedings are pending against him. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee of creditors shall be held within 7 days of the constitution of the committee of creditors. Appointment of interim Resolution Professional (IRP) [ Section 22(2) ] In the first meeting The committee of creditors, by a majority vote of not less than sixty-six per cent of the voting share of the financial creditors, either resolve to appoint the interim resol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fessional along with a written consent from the proposed resolution professional in the specified form. Adjudication Authority send the name of Resolution Professional to Board [ Section 22(4) ] The Adjudicating Authority shall forward the name of the resolution professional proposed under section 22(3)(b) to the Board for its confirmation and shall make such appoint ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
