Replacement of Resolution Professional by Committee of Creditors [ Section 27 ]

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..... Corporate Insolvency Resolution Process the Committee of creditors is of the opinion that the resolution professional appointed under section 22 is required to be replaced, it may replace, him with another resolution professional in the manner provided under this section.. Requirement of voting share to replace resolution professional [ Section 27(2) ] Th e committee of cred .....

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..... sional shall be appointed in the same manner as laid down in section 16 . Continuation of existing RP if disciplinary proceedings are pending against the proposed RP [ Section 27(5) ] W h e r e an y disciplinary proceedings are pending against the proposed resolution professional under section 27(3) , the resolution professional appointed under section 22 shall contin .....

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..... umpire to conduct corporate insolvency resolution process (CIRP) as required by well settled practice. Devendra Padamchand Jain Vs. State Bank of India Ors. [ 2018 (6) TMI 1063 - NCLAT, New Delhi ] Dated 31.01.2018 The Adjudicating authority (AA) is also empowered to remove the RP, apart from the committee of Creditor (CoC), but it should be for the reasons and in the manner a .....

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