NCLAT Overturns NCLT Order on Resolution Professional Replacement

NCLAT allows appeal against NCLT order that rejected CoC's choice of Resolution Professional for Three C Projects Pvt Ltd.
Tribunal rules Adjudicating Authority cannot substitute CoC's commercial wisdom in appointing a replacement RP under IBC Section 27.
Finds no evidence that proposed RP showed 'extraordinary interest' or violated IBC provisions through commitments or legal advice.
Directs NCLT to forward CoC's proposed RP name to IBBI for confirmation as required by law.