Section 98 of IBC allows Financial Creditor to apply for replacement of Resolution Professional

Vinay Rai Vs Technology Development Board (NCLAT Delhi) NCLAT Delhi held that provisions of section 98 of the IBC enables Financial Creditor to apply for replacement of Resolution Professional. Notably, filing of application by resolution professional is immaterial. Facts- This Appeal has been filed by Personal Guarantor of the Corporate Debtor challenging order dated 10.09.2024 passed by National Company Law Tribunal, New Delhi. The Adjudicating Authority while passing order on application under Section 98 of the Insolvency and Bankruptcy Code, 2016 has partly allowed application filed by the...