Resolution Professional Replacement needs Cogent Grounds

The NCLT, Jaipur Bench, by its order dated 19 June 2026, dismissed an application filed by a personal guarantor seeking substitution of the Resolution Professional (RP) appointed.

The Tribunal held that while the Adjudicating Authority possesses jurisdiction to replace an RP even after admission of insolvency proceedings, such power is exceptional and can be exercised only upon proof of legally sustainable grounds.