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Resolution Professional (RP) Services Under the IBC
A Resolution Professional (RP) is appointed under the Insolvency and Bankruptcy Code, 2016 to conduct the Corporate Insolvency Resolution Process (CIRP) after the interim phase. The RP runs the company as a going concern, invites and evaluates resolution plans, and works with the Committee of Creditors to achieve a resolution that maximises value — all within the strict timelines the Code prescribes.
At N D Savla & Associates, our IBBI-registered professionals act as Resolution Professionals, managing the full CIRP with a focus on value maximisation and compliance. The role connects directly with our Interim Resolution Professional services, Liquidator services, Insolvency & Bankruptcy matters before the NCLT, and corporate litigation.
This page explains what an RP does, when the RP takes over, the step-by-step resolution process, how India's insolvency law evolved, how the role applies across cases, and the questions stakeholders raise most.
What Does a Resolution Professional Do?
The RP conducts the heart of the CIRP: running the corporate debtor, marketing it to resolution applicants, evaluating the plans they submit, and steering the Committee of Creditors to a decision. The RP is both manager and process custodian.
Everything the RP does is aimed at one outcome — a compliant resolution plan that preserves value — or, failing that, an orderly move to liquidation.
- Runs the corporate debtor as a going concern.
- Invites, manages, and evaluates resolution plans.
- Conducts CoC meetings and files the approved plan with the NCLT.
When Does the RP Take Over From the IRP?
At the First CoC Meeting
The Committee of Creditors, once constituted by the Interim Resolution Professional, decides at its first meeting whether to confirm the IRP as RP or appoint a different professional. From that point the RP conducts the process.
On NCLT Confirmation
Where the CoC proposes a new RP, the appointment is placed before the NCLT for confirmation, and the RP's authority is formalised.
Continuity of Control
The board remains suspended, and the RP continues to exercise the powers of management throughout the resolution phase.
What Timelines Govern the Resolution Process?
CIRP is a time-bound process designed to conclude within a defined statutory period, including permitted extensions, after which the company generally proceeds to liquidation if no plan is approved. The RP must manage plan invitation, evaluation, and CoC voting to fit within this window — delays can cost the company its chance at revival.
How Does the RP Conduct CIRP? Our 8-Step Process
- Take over from the IRP — assume conduct of the process on confirmation or appointment by the CoC.
- Manage operations — run the corporate debtor as a going concern to preserve value.
- Finalise the Information Memorandum — complete detailed financial and operational information for bidders.
- Invite resolution plans — issue the Expression of Interest and request for resolution plans to eligible applicants.
- Evaluate plans — assess each plan for compliance with the Code and commercial viability.
- Convene CoC meetings — present plans and facilitate voting by the Committee of Creditors.
- Obtain CoC approval — secure the requisite voting majority for the chosen resolution plan.
- File with the NCLT — submit the approved plan for the Tribunal's sanction and support implementation.
How Has the Resolution Framework Evolved in India?
The RP role, like the IBC itself, is a product of India's decisive break from a slow, fragmented insolvency past.
Before the 1991 reforms and for two decades after, distressed companies were dealt with under the Sick Industrial Companies Act and the BIFR, alongside debt recovery tribunals and scattered Companies Act provisions. Revival was rare, timelines were open-ended, and management often retained control while creditors waited years for recovery.
The surge in bank lending after liberalisation, and the non-performing-asset crisis that followed, made this system untenable. Policymakers concluded that India needed a unified, creditor-driven, time-bound process with independent professionals at the helm.
The Insolvency and Bankruptcy Code, 2016 delivered exactly that, and the Resolution Professional emerged as the independent manager of the resolution process, accountable to the Committee of Creditors and the NCLT. Successive amendments have refined plan evaluation, bidder eligibility, and timelines. The governing regulations are maintained by the Insolvency and Bankruptcy Board of India.
How Does the RP Role Apply Across Different Cases?
Companies With Multiple Interested Bidders
Where several resolution applicants compete, the RP's evaluation and CoC-facilitation skills are decisive in extracting maximum value while keeping the process fair and compliant.
Complex Group and Cross-Holding Structures
For companies embedded in group structures, the RP must untangle inter-company claims and coordinate with related proceedings, often alongside company law and NCLT matters.
Cases Heading Toward Liquidation
Where no viable plan emerges, the RP ensures the transition to liquidation is orderly, documented, and compliant.
Why Choose N D Savla & Associates for RP Services?
- Deep IBC expertise. A strong command of the Code, regulations, and evolving case law.
- End-to-end CIRP management. From going-concern operations to an NCLT-sanctioned plan.
- Value maximisation. Rigorous plan evaluation and CoC facilitation aimed at the best outcome.
- Timeline discipline. The process is driven to conclude within statutory deadlines.
- Qualified professionals. Handled by IBBI-registered insolvency professionals.
Tip: a well-prepared Information Memorandum attracts stronger resolution plans. Investing effort early in accurate, transparent company information usually translates into better recovery for creditors.
Frequently Asked Questions — Resolution Professional
Who is a Resolution Professional under the IBC?
A Resolution Professional (RP) is the insolvency professional who conducts the Corporate Insolvency Resolution Process after the interim phase, either confirmed from the IRP or appointed afresh by the Committee of Creditors. The RP runs the corporate debtor and drives the process toward a resolution plan. The RP is the central figure of CIRP, balancing the interests of creditors, the company, and prospective resolution applicants under the oversight of the CoC and the NCLT.
What is the role of the Resolution Professional?
The RP manages the corporate debtor as a going concern, prepares and issues the Information Memorandum, invites and manages resolution plans, evaluates their feasibility and compliance, and conducts the meetings of the Committee of Creditors. The RP also ensures the process stays within statutory timelines and files the approved plan with the Tribunal. In short, the RP orchestrates the entire resolution effort from stabilisation through to an approved plan.
Who appoints the Resolution Professional?
The Committee of Creditors appoints or confirms the Resolution Professional at its first meeting. It may retain the IRP as the RP or resolve to replace the IRP with another insolvency professional, whose appointment is then placed before the NCLT. This makes the RP accountable to the creditor body, reflecting the creditor-in-control philosophy of the IBC.
What happens during CIRP under the RP?
Under the RP, the corporate debtor is run as a going concern while the company is marketed to prospective resolution applicants, who submit resolution plans. The RP evaluates the plans for compliance with the Code, and the CoC votes on them; an approved plan is then submitted to the NCLT for sanction. If no viable plan is approved within the timeline, the process moves toward liquidation.
What is the objective of the Resolution Professional?
The core objective is to maximise the value of the corporate debtor's assets and achieve a successful, legally compliant resolution that keeps the company alive where possible. Value maximisation for all stakeholders, within the Code's timelines, is the guiding principle. Where revival is not possible, the RP ensures the transition to liquidation is orderly and compliant.