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TMI BlogAppointment and Remuneration of Liquidator under IBC [ Section 34 ]X X X X Extracts X X X X X X X X Extracts X X X X ..... uidation of the corporate debtor under section 33 , the resolution professional appointed for the corporate insolvency resolution process under Chapter II or for the pre-packaged insolvency resolution process under Chapter III-A shall, subject to submission of a written consent by the resolution professional to the Adjudicatory Authority in specified form, act as the liquidator for the purposes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ffairs of the corporate debtor and provisions of section 19 shall apply in relation to voluntary liquidation process as they apply in relation to liquidation process with the substitution of references to the liquidator for references to the interim resolution professional. Order to replace the resolution professional [ Section 34(4) ] The Adjudicating Authority shall by order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 34(6) ] The Board shall propose the name of another insolvency professional along with written consent from the insolvency professional in the specified form, within ten days of the direction issued by the Adjudicating Authority under section 34(5) . Adjudicating Authority to appoint insolvency professional as the liquidator [ Section 34(7) ] The Adjudicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 4 of Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 . Relevant Case Laws Sandeep Kumar Gupta Vs. Stewarts Lloyds of India Ltd. Anr. - NCLAT Dated 28.02.2018 AA was well within its jurisdiction to engage another person as RP or Liquidator as the performance of the previous RP was unsatisfactory. Vijay Kumar Sin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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