{"id":7073119,"date":"2026-10-02T16:49:47","date_gmt":"2026-10-02T16:49:47","guid":{"rendered":"https:\/\/fivemor.com\/?p=7073119"},"modified":"2026-10-02T16:49:47","modified_gmt":"2026-10-02T16:49:47","slug":"difference-between-irp-and-rp-under-the-insolvency-and-bankruptcy-code-lex-bona-fide","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7073119","title":{"rendered":"Difference Between IRP and RP under the Insolvency and Bankruptcy Code &#8211; Lex Bona Fide"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p data-start=\"4300\" data-end=\"4500\">The Insolvency and Bankruptcy Code appoints insolvency professionals to manage distressed companies. Two important roles are the Interim Resolution Professional (IRP) and Resolution Professional (RP).<\/p>\n<h2 data-start=\"4502\" data-end=\"4554\">What Is an Interim Resolution Professional (IRP)?<\/h2>\n<p data-start=\"4555\" data-end=\"4610\">The IRP is appointed by NCLT at the initiation of CIRP.<\/p>\n<h3 data-start=\"4612\" data-end=\"4636\">Key Functions of IRP<\/h3>\n<ul data-start=\"4637\" data-end=\"4777\">\n<li data-start=\"4637\" data-end=\"4673\">\n<p data-start=\"4639\" data-end=\"4673\">Take control of corporate debtor<\/p>\n<\/li>\n<li data-start=\"4674\" data-end=\"4703\">\n<p data-start=\"4676\" data-end=\"4703\">Collect and verify claims<\/p>\n<\/li>\n<li data-start=\"4704\" data-end=\"4741\">\n<p data-start=\"4706\" data-end=\"4741\">Constitute Committee of Creditors<\/p>\n<\/li>\n<li data-start=\"4742\" data-end=\"4777\">\n<p data-start=\"4744\" data-end=\"4777\">Manage affairs as going concern<\/p>\n<\/li>\n<\/ul>\n<h2 data-start=\"4779\" data-end=\"4821\">What Is a Resolution Professional (RP)?<\/h2>\n<p data-start=\"4822\" data-end=\"4903\">The RP is appointed by the Committee of Creditors to replace or continue the IRP.<\/p>\n<h3 data-start=\"4905\" data-end=\"4928\">Key Functions of RP<\/h3>\n<h2 data-start=\"5049\" data-end=\"5086\">Key Differences Between IRP and RP<\/h2>\n<div class=\"TyagGW_tableContainer\">\n<div class=\"group TyagGW_tableWrapper flex flex-col-reverse w-fit\" tabindex=\"-1\">\n<table class=\"w-fit min-w-(--thread-content-width)\" data-start=\"5088\" data-end=\"5280\">\n<thead data-start=\"5088\" data-end=\"5109\">\n<tr data-start=\"5088\" data-end=\"5109\">\n<th data-start=\"5088\" data-end=\"5097\" data-col-size=\"sm\">Aspect<\/th>\n<th data-start=\"5097\" data-end=\"5103\" data-col-size=\"sm\">IRP<\/th>\n<th data-start=\"5103\" data-end=\"5109\" data-col-size=\"sm\">RP<\/th>\n<\/tr>\n<\/thead>\n<tbody data-start=\"5129\" data-end=\"5280\">\n<tr data-start=\"5129\" data-end=\"5163\">\n<td data-start=\"5129\" data-end=\"5143\" data-col-size=\"sm\">Appointment<\/td>\n<td data-col-size=\"sm\" data-start=\"5143\" data-end=\"5153\">By NCLT<\/td>\n<td data-col-size=\"sm\" data-start=\"5153\" data-end=\"5163\">By CoC<\/td>\n<\/tr>\n<tr data-start=\"5164\" data-end=\"5204\">\n<td data-start=\"5164\" data-end=\"5173\" data-col-size=\"sm\">Tenure<\/td>\n<td data-col-size=\"sm\" data-start=\"5173\" data-end=\"5189\">Initial phase<\/td>\n<td data-col-size=\"sm\" data-start=\"5189\" data-end=\"5204\">Entire CIRP<\/td>\n<\/tr>\n<tr data-start=\"5205\" data-end=\"5241\">\n<td data-start=\"5205\" data-end=\"5212\" data-col-size=\"sm\">Role<\/td>\n<td data-col-size=\"sm\" data-start=\"5212\" data-end=\"5224\">Temporary<\/td>\n<td data-col-size=\"sm\" data-start=\"5224\" data-end=\"5241\">Comprehensive<\/td>\n<\/tr>\n<tr data-start=\"5242\" data-end=\"5280\">\n<td data-start=\"5242\" data-end=\"5254\" data-col-size=\"sm\">Authority<\/td>\n<td data-col-size=\"sm\" data-start=\"5254\" data-end=\"5264\">Limited<\/td>\n<td data-col-size=\"sm\" data-start=\"5264\" data-end=\"5280\">Wider powers<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<h2 data-start=\"5282\" data-end=\"5312\">Why This Difference Matters<\/h2>\n<p data-start=\"5313\" data-end=\"5452\">Understanding this distinction helps creditors, homebuyers, and stakeholders assert their rights effectively during insolvency proceedings.<\/p>\n<p data-start=\"5454\" data-end=\"5564\"><br data-start=\"5476\" data-end=\"5479\"\/>IRP vs RP, insolvency process under IBC, CIRP professionals, insolvency lawyer Indore<\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>The Insolvency and Bankruptcy Code appoints insolvency professionals to manage distressed companies. Two important roles are the Interim Resolution Professional (IRP) and Resolution Professional (RP). What Is an Interim Resolution Professional (IRP)? The IRP is appointed by NCLT at the initiation of CIRP. Key Functions of IRP Take control of corporate debtor Collect and verify [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[98309],"tags":[11433,103812,11230,17855,110822,26168,189252,60428],"dealstore":[],"offerexpiration":[],"class_list":["post-7073119","post","type-post","status-publish","format-standard","hentry","category-blogs","tag-bankruptcy","tag-bona","tag-code","tag-difference","tag-fide","tag-insolvency","tag-irp","tag-lex"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Difference Between IRP and RP under the Insolvency and Bankruptcy Code - Lex Bona Fide - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7073119\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Difference Between IRP and RP under the Insolvency and Bankruptcy Code - Lex Bona Fide - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"The Insolvency and Bankruptcy Code appoints insolvency professionals to manage distressed companies. 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