If A Resolution Professional Is Guilty Of Misconduct: What Happens To The Ongoing Proceedings Of The Corporate Insolvency Resolution Process?

Aradhya Srivastava, BBA LLB (H), Symbiosis Law School, Pune

ABSTRACT

The Corporate Insolvency Resolution Process (CIRP) is a critical mechanism within the framework of insolvency and bankruptcy laws designed to resolve the financial distress of companies while ensuring fairness, transparency, and the maximization of value for creditors. Central to the success of this process is the role of the resolution professional (RP), who is entrusted with the responsibility of managing and facilitating the CIRP. However, the integrity and conduct of the RP are paramount to maintaining the credibility of the insolvency process. In situations where an RP is found guilty of misconduct, it raises profound questions about the ongoing proceedings, the interests of stakeholders, and the need for corrective action.