This is a Company Appeal (AT) (Insolvency) No. 491 of 2018 arising out of an order dated 10th August, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi in Company Petition No. (IB)-75(PB)/2018. The appeal was preferred by ‘M/s Bhasin Infotech and Infrastructure Private Limited' (Corporate Debtor) against the order dated 10th August, 2018, where the Adjudicating Authority directed the Appellant to pay a lump sum fee of Rs.5 lakh to the Interim Resolution Professional within a week. The Corporate Debtor challenged the order, arguing that the fee was excessive and arbitrary.
The Corporate Debtor, ‘M/s Bhasin Infotech and Infrastructure Private Limited', filed an appeal against an order dated 10th August, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi. The Adjudicating Authority had directed the Corporate Debtor to pay a lump sum fee of Rs.5 lakh to the Interim Resolution Professional (IRP) for his services. The Corporate Debtor challenged this order, claiming the fee was excessive and arbitrary, considering the IRP worked for 27 days. The IRP had initially claimed Rs.6.50 lakhs from the Financial Creditor for 30 days of work. The Financial Creditor had proposed Mr. Gurmeet Singh as the IRP. The application under Section 7 of the I&B Code was admitted on 13th June, 2018, but later
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Adjudicating Authority directed the Corporate…
The application under Section 7 of the I&B…
This is a Company Appeal (AT) (Insolvency) No. 491 of 2018 arising out of an order dated 10th August, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi in Company Petition No. (IB)-75(PB)/2018. The appeal was preferred by ‘M/s Bhasin Infotech and Infrastructure Private Limited' (Corporate Debtor) against the order dated 10th August, 2018, where the Adjudicating Authority directed the Appellant to pay a lump sum fee of Rs.5 lakh to the Interim Resolution Professional within a week. The Corporate Debtor challenged the order, arguing that the fee was excessive and arbitrary.
The Corporate Debtor, ‘M/s Bhasin Infotech and Infrastructure Private Limited', filed an appeal against an order dated 10th August, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi. The Adjudicating Authority had directed the Corporate Debtor to pay a lump sum fee of Rs.5 lakh to the Interim Resolution Professional (IRP) for his services. The Corporate Debtor challenged this order, claiming the fee was excessive and arbitrary, considering the IRP worked for 27 days. The IRP had initially claimed Rs.6.50 lakhs from the Financial Creditor for 30 days of work. The Financial Creditor had proposed Mr. Gurmeet Singh as the IRP. The application under Section 7 of the I&B Code was admitted on 13th June, 2018, but later
…Adjudicating Authority directed the Corporate…
The application under Section 7 of the I&B…