{"id":32130,"date":"2026-06-16T01:16:03","date_gmt":"2026-06-15T19:46:03","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=32130"},"modified":"2026-06-16T01:20:03","modified_gmt":"2026-06-15T19:50:03","slug":"replacement-of-irp-rp-under-ibc","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/replacement-of-irp-rp-under-ibc\/","title":{"rendered":"Replacement of IRP\/RP under IBC: Complete Practical Guide"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3080dc57f8b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3080dc57f8b\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/replacement-of-irp-rp-under-ibc\/#Replacement_of_IRPRP_under_IBC_2016_%E2%80%93_Complete_Practical_Guide_for_Professionals\" title=\"Replacement of IRP\/RP under IBC, 2016 \u2013 Complete Practical Guide for Professionals\">Replacement of IRP\/RP under IBC, 2016 \u2013 Complete Practical Guide for Professionals<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/replacement-of-irp-rp-under-ibc\/#Understanding_the_Role_of_IRP_and_RP\" title=\"Understanding the Role of IRP and RP\">Understanding the Role of IRP and RP<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/replacement-of-irp-rp-under-ibc\/#Legal_Framework_for_Replacement_of_IRPResolution_Professional_under_IBC_2016\" title=\"Legal Framework for Replacement of IRP\/Resolution Professional under IBC, 2016\">Legal Framework for Replacement of IRP\/Resolution Professional under IBC, 2016<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/replacement-of-irp-rp-under-ibc\/#What_are_the_practical_grounds_for_replacement_of_IRP_or_RP\" title=\"What are the practical grounds for replacement of IRP or RP? \">What are the practical grounds for replacement of IRP or RP? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/replacement-of-irp-rp-under-ibc\/#Step-by-Step_Process_for_Replacement_of_IRPRP_under_IBC_2016\" title=\"Step-by-Step Process for Replacement of IRP\/RP under IBC, 2016\">Step-by-Step Process for Replacement of IRP\/RP under IBC, 2016<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/replacement-of-irp-rp-under-ibc\/#Important_Judicial_Principles_is_Process_for_Replacement_of_IRPRP_under_IBC_2016\" title=\"Important Judicial Principles is Process for Replacement of IRP\/RP under IBC, 2016\">Important Judicial Principles is Process for Replacement of IRP\/RP under IBC, 2016<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/replacement-of-irp-rp-under-ibc\/#Draft_Template_Outline\" title=\"Draft Template Outline\">Draft Template Outline<\/a><\/li><\/ul><\/nav><\/div>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-32131\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/IRP-RP.png\" alt=\"Replacement of IRP\/RP under IB\" width=\"1110\" height=\"674\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/IRP-RP.png 856w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/IRP-RP-300x182.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/IRP-RP-768x467.png 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/06\/IRP-RP-800x486.png 800w\" sizes=\"(max-width: 1110px) 100vw, 1110px\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Replacement_of_IRPRP_under_IBC_2016_%E2%80%93_Complete_Practical_Guide_for_Professionals\"><\/span><span style=\"color: #000080;\"><strong>Replacement of IRP\/RP under IBC, 2016 \u2013 Complete Practical Guide for Professionals<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Insolvency and Bankruptcy Code, 2016 (IBC) provides a structured and time-bound framework for insolvency resolution. A key pillar of this process is the role of the Interim Resolution Professional and the Resolution Professional (RP).<\/p>\n<p>However, there may arise situations requiring the replacement of IRP\/RP due to inefficiency, conflict of interest, or stakeholder dissatisfaction. The Code provides clear mechanisms for such replacement, depending on the stage and nature of proceedings. This blog provides a comprehensive legal and practical guide to replacing an IRP or Resolution Professional under IBC.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Understanding_the_Role_of_IRP_and_RP\"><\/span><span style=\"color: #000080;\"><strong>Understanding the Role of IRP and RP<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>IRP (Interim Resolution Professional): Appointed at the initiation of CIRP to take control of the Corporate Debtor and constitute the Committee of Creditors.<\/li>\n<li>RP (Resolution Professional): Either confirmed from the IRP or newly appointed by the Committee of Creditors to manage CIRP and conduct the resolution process.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Legal_Framework_for_Replacement_of_IRPResolution_Professional_under_IBC_2016\"><\/span><span style=\"color: #000080;\"><strong>Legal Framework for Replacement of IRP\/Resolution Professional under IBC, 2016<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Insolvency and Bankruptcy Code, 2016 provides multiple provisions depending on the stage and applicant:<\/p>\n<p><span style=\"color: #000080;\"><strong>Section 22 \u2013 Appointment\/Replacement after First CoC Meeting <\/strong><\/span><\/p>\n<p>Applies after the constitution of the Committee of Creditors. CoC may confirm the interim resolution professional as RP or replace the interim resolution professional with another RP. Requires a majority vote (previously 66%) and an application filed before the NCLT court.<\/p>\n<p><span style=\"color: #000080;\"><strong>Section 27 \u2013 Replacement of RP during CIRP<\/strong><\/span><\/p>\n<p>The Committee of Creditors can replace the Resolution Professional at any time during CIRP, which requires a 66% voting share of the Committee of Creditors.<\/p>\n<p>Moreover, there is No need to assign detailed reasons (though practically advisable), and the proposed RP must give written consent.<\/p>\n<p><span style=\"color: #000080;\"><strong>Section 98 \u2013 Replacement in Individual Insolvency<\/strong><\/span><\/p>\n<p>Applies in personal guarantor\/individual insolvency cases. Application can be made by debtor or creditor. Filed before Adjudicating Authority (NCLT)<\/p>\n<p><span style=\"color: #000080;\"><strong>Section 60(5) &amp; Rule 11 of NCLT Rules<\/strong><\/span><\/p>\n<p>Residual powers of NCLT : Used for Filing Interlocutory Applications (IA) and raising specific grievances like bias, misconduct, lack of cooperation and procedural violations<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_practical_grounds_for_replacement_of_IRP_or_RP\"><\/span><span style=\"color: #000080;\"><strong>What are the practical grounds for replacement of IRP or RP? <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>While The Insolvency and Bankruptcy Code, 2016, does not mandate strict justification, in practice, the following grounds are commonly cited: Conflict of interest, Lack of transparency, Non-cooperation with the committee of creditors, delay in CIRP timelines, and disciplinary proceedings by IBBI. Inefficiency in asset management and Poor communication\/reporting<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Step-by-Step_Process_for_Replacement_of_IRPRP_under_IBC_2016\"><\/span><span style=\"color: #000080;\"><strong>Step-by-Step Process for Replacement of IRP\/RP under IBC, 2016<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong><span style=\"color: #000080;\">Step 1: Obtain CoC Approval :<\/span> <\/strong>RP must conduct a Committee of Creditors meeting. Pass resolution with 66% voting share and record detailed minutes<\/p>\n<p><span style=\"color: #000080;\"><strong>Step 2: Identify New RP : <\/strong><\/span>Choose a qualified insolvency professional, ensure registration with IBBI, and have no disciplinary proceedings. No conflict of interest must be there.<\/p>\n<p><span style=\"color: #000080;\"><strong>Step 3: Obtain Consent: The proposed resolution professional<\/strong><\/span> must submit written consent (Form AA \/ Form 2 as applicable) and confirm eligibility under IBC and regulations.<\/p>\n<p><span style=\"color: #000080;\"><strong>Step 4: Draft Interlocutory Application (IA): <\/strong><\/span>The interlocutory applications should include details of the corporate debtor, existing interim resolution professional \/ RP, and legal provision invoked via Section 22 \/ 27 \/ 98 \/ 60(5) of the Insolvency and Bankruptcy Code, 2016.<\/p>\n<p>Grounds for replacement must be a copy of the committee of creditors&#8217; resolution, consent of the proposed resolution professional, and a prayer for the removal of the existing RP and appointment of a new RP.<\/p>\n<p><strong><span style=\"color: #000080;\">Step 5: Filing with NCLT :<\/span> <\/strong>File interlocutory applications through the NCLT e-filing portal, Pay the prescribed fees, attach authorization documents, an affidavit, and annexures.<\/p>\n<p><strong><span style=\"color: #000080;\">Step 6: NCLT Hearing and Order :<\/span> <\/strong>NCLT examines procedural compliance and consent and eligibility of the new resolution professional. On approval, the new resolution professional is formally appointed, and the existing RP hands over charge.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-10259\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/01\/CIRP.jpg\" alt=\"www.carajput.com; IBBI\" width=\"1056\" height=\"679\" \/><\/p>\n<p>It must be noted that while replacing the resolution professional or IRP under the CIRP process, always document CoC dissatisfaction clearly.<\/p>\n<p>The Committee of Creditors must ensure proper voting compliance and take charge of bank accounts and records immediately. Follow up on pending claims and verifications and maintain transparency during transition.<\/p>\n<p>Key practical challenges under this process are delay in handover by the outgoing RP, disputes over fees of the previous RP, incomplete records\/documents, and resistance from management with ongoing litigation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Important_Judicial_Principles_is_Process_for_Replacement_of_IRPRP_under_IBC_2016\"><\/span><span style=\"color: #000080;\"><strong>Important Judicial Principles is Process for Replacement of IRP\/RP under IBC, 2016<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>CoC has commercial wisdom supremacy in replacing the resolution professional<\/li>\n<li>Reasons are not mandatory but strengthen the case<\/li>\n<li>A smooth transition is critical for CIRP timelines<\/li>\n<li>Resolution Professional acts as facilitator\u2014not decision-maker<\/li>\n<\/ul>\n<div class=\"mceTemp\"><\/div>\n<p><strong> Conclusion<\/strong><\/p>\n<p>Replacement of Interim Resolution A professional\/RP is a critical yet structured process under the Insolvency and Bankruptcy Code, 2016. While the law empowers stakeholders, especially the Committee of Creditors, to exercise control over insolvency professionals, the process must be handled with procedural discipline and strategic clarity.<\/p>\n<p>A well-drafted application, proper documentation, and compliance with statutory provisions ensure that the transition does not disrupt the CIRP timeline and protects the interests of all stakeholders.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Draft_Template_Outline\"><\/span><strong>Draft Template Outline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>BEFORE THE NATIONAL COMPANY LAW TRIBUNAL, [Insert Bench e.g., MUMBAI \/ NEW DELHI] BENCH<\/strong><br \/>\n<strong>IA NO. ________ OF 2026<\/strong><br \/>\n<strong>IN<\/strong><br \/>\n<strong>COMPANY PETITION (IB) NO. ________ OF 202[X]<\/strong><\/p>\n<p><strong>IN THE MATTER OF:<\/strong><br \/>\n[Name of Applicant\/Financial Creditor\/Corporate Debtor] &#8230; Applicant<br \/>\n<em>Versus<\/em><br \/>\n[Name of Corporate Debtor] &#8230; Corporate Debtor<\/p>\n<p><strong>APPLICATION FILED UNDER SECTION [Insert Section, e.g., 27\/98] OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016 READ WITH RULE 11 OF THE NCLT RULES, 2016 FOR REPLACEMENT OF RESOLUTION PROFESSIONAL<\/strong> [<a href=\"https:\/\/ibclaw.in\/punjab-national-bank-vs-piyush-kumar-kapoor-rp-nclt-indore-bench\/\">1<\/a>]<\/p>\n<p><strong>THE APPLICANT HUMBLY SHOWETH:<\/strong><\/p>\n<ol>\n<li><strong>Details of the Corporate Insolvency Resolution Process (CIRP):<\/strong> Briefly outline when the CIRP was initiated and when the current RP was appointed.<\/li>\n<li><strong>Grounds for Replacement:<\/strong> Clearly state the rationale. (e.g., <em>&#8220;The Committee of Creditors in its [Insert No.] meeting held on [Date] resolved with [Insert] % voting share to replace the current RP, Mr.\/Ms. [Name], due to [Specify cogent reasons, e.g., delays in the process, pending disciplinary actions, conflict of interest].&#8221;<\/em> )<\/li>\n<li><strong>Proposed Resolution Professional:<\/strong> State that the proposed RP, Mr.\/Ms. [New Name] (IBBI Registration No. ____________), is eligible to act as RP and has provided his written consent in <strong>Form AA<\/strong>.<\/li>\n<li><strong>Prayer:<\/strong>\n<ul>\n<li>Allow the present application and replace the outgoing RP, Mr.\/Ms. [Name];<\/li>\n<li>Appoint Mr.\/Ms. [New Name] as the Resolution Professional for the Corporate Debtor;<\/li>\n<li>Pass any such other orders as this Hon&#8217;ble Tribunal may deem fit.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><strong>DATED:<\/strong> [Date, e.g., 1.05.2026]<br \/>\n<strong>PLACE:<\/strong> [Location, e.g., kota, Rajasthan]<\/p>\n<p><strong>[SIGNATURE]<\/strong><br \/>\n<strong>Counsel for the Applicant<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Replacement of IRP\/RP under IBC, 2016 \u2013 Complete Practical Guide for Professionals The Insolvency and Bankruptcy Code, 2016 (IBC) provides a structured and time-bound framework for insolvency resolution. A key pillar of this process is the role of the Interim Resolution Professional and the Resolution Professional (RP). However, there may arise situations requiring the replacement &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10219],"tags":[10475],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/32130"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=32130"}],"version-history":[{"count":3,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/32130\/revisions"}],"predecessor-version":[{"id":32134,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/32130\/revisions\/32134"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=32130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=32130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=32130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}