The Monitoring Agency filed an appeal because the Respondent (AGC Networks Ltd.) threatened to discontinue IT services to the Corporate Debtor after the Resolution Plan was approved. The Respondent had been providing these services free of cost. The Appellant (Abhijit Guhathakurta, Monitoring Agency of the Corporate Debtor) filed I.A. No. 1013 of 2020, seeking the continuation of these services. The Adjudicating Authority directed payment of Rs. 25 Lakhs per month during the CIRP period. The Impugned Order dated 14th July, 2020, is an Interim Order, and I.A. No. 1013 of 2020 is yet to be decided.
The Monitoring Agency, Abhijit Guhathakurta, filed an appeal against AGC Networks Ltd. because AGC Networks Ltd. threatened to discontinue IT services to the Corporate Debtor after the Resolution Plan was approved. AGC Networks Ltd. had been providing these services free of cost to the Corporate Debtor. The Monitoring Agency filed I.A. No. 1013 of 2020, seeking the continuation of these services. The Adjudicating Authority directed payment of Rs. 25 Lakhs per month during the CIRP period. The Impugned Order dated 14th July, 2020, is an Interim Order, and I.A. No. 1013 of 2020 is yet to be decided. The Appellant was taking steps to evaluate the fairness of the quotation provided by the Respondent. The Adjudicating Authority directed the Corporate Debtor to pay 60% of
…Sign in to view the parties.
Date of the Impugned…
The Tribunal passed an Interim Order staying…
Sign in to view related legal provisions.
The Monitoring Agency filed an appeal because the Respondent (AGC Networks Ltd.) threatened to discontinue IT services to the Corporate Debtor after the Resolution Plan was approved. The Respondent had been providing these services free of cost. The Appellant (Abhijit Guhathakurta, Monitoring Agency of the Corporate Debtor) filed I.A. No. 1013 of 2020, seeking the continuation of these services. The Adjudicating Authority directed payment of Rs. 25 Lakhs per month during the CIRP period. The Impugned Order dated 14th July, 2020, is an Interim Order, and I.A. No. 1013 of 2020 is yet to be decided.
The Monitoring Agency, Abhijit Guhathakurta, filed an appeal against AGC Networks Ltd. because AGC Networks Ltd. threatened to discontinue IT services to the Corporate Debtor after the Resolution Plan was approved. AGC Networks Ltd. had been providing these services free of cost to the Corporate Debtor. The Monitoring Agency filed I.A. No. 1013 of 2020, seeking the continuation of these services. The Adjudicating Authority directed payment of Rs. 25 Lakhs per month during the CIRP period. The Impugned Order dated 14th July, 2020, is an Interim Order, and I.A. No. 1013 of 2020 is yet to be decided. The Appellant was taking steps to evaluate the fairness of the quotation provided by the Respondent. The Adjudicating Authority directed the Corporate Debtor to pay 60% of
…Date of the Impugned…
The Tribunal passed an Interim Order staying…
Sign in to view related legal provisions.