87. (1) The debtor or the creditor who is aggrieved by the action taken
by the resolution professional under section 86 may, within ten days of such
decision, make an application to the Adjudicating Authority challenging such
action on any of the following grounds, namely:-
(a) that the resolution professional has not given an opportunity to the
debtor or the creditor to make a representation; or
(b) that the resolution professional colluded with the other party in
arriving at the decision; or
(c) that the resolution professional has not complied with the requirements
of section 86.
(2) The Adjudicating Authority shall decide the application referred to in
sub-section (1) within fourteen days of such application, and make an order
as it deems fit.
(3) Where the application under sub-section (1) has been allowed by the
Adjudicating Authority, it shall forward its order to the Board and the
Board may take such action as may be required under Chapter VI of Part IV
against the resolution professional.