By S&S Co. Advocates & Solicitors · Published 19 May 2026 · Informational content, not legal advice
About this article: A general explainer prepared by S&S Co. Advocates & Solicitors on a recurring type of dispute. It does not report a specific judgment or order, names no parties and gives no case citation, so it should not be cited as authority. Law and practice change; please verify against the current statute and primary sources before relying on it.
When a corporate insolvency resolution process begins, the adjudicating authority appoints an interim resolution professional (IRP), who takes over the management of the corporate debtor and exercises the powers and duties in Sections 17 to 20 of the Insolvency and Bankruptcy Code, 2016. At its first meeting the committee of creditors (CoC) may, under Section 22, resolve to appoint the IRP as the resolution professional (RP) or to replace the IRP with another insolvency professional, subject to confirmation by the Board.
The IRP's role continues until the process of confirmation or replacement is completed. Once the CoC resolves to replace the IRP and the new professional is appointed, the earlier professional is expected to hand over, and steps taken afterwards by someone who is no longer authorised may be open to challenge or may need ratification by the new RP, and in a material case by the CoC.
The IRP and the RP act under statutory duties to the process and to the creditors collectively. For that reason, the timing of the resolution, the Board's confirmation and the handover are worth documenting carefully.
Key Points
- The IRP's powers continue until the CoC's Section 22 decision and confirmation take effect.
- A handover in writing and ratification of gap-period decisions reduce risk.
- The Board's confirmation of a new professional is a separate step.