CMA Harshad Deshpande, the Interim Resolution Professional (IRP) of M/s Shri Tradco Deesan Private Limited, challenged an order from the National Company Law Tribunal (NCLT), Mumbai Bench, dated 07.10.2024. The Corporate Insolvency Resolution Process (CIRP) commenced on 15.02.2023. An NCLAT interim order on 28.02.2023 stayed the constitution of the Committee of Creditors (CoC) but permitted the IRP to continue with collation and verification of claims. After the stay was vacated on 01.09.2023, the CoC replaced Deshpande with Shri Rakesh Kumar Relan as the Resolution Professional (RP). The CoC subsequently partially ratified Deshpande's professional fees, denying payment for the six-month period during which the CoC constitution was stayed (01.03.2023-31.08.2023) and
…The Corporate Insolvency Resolution Process (CIRP) against M/s Shri Tradco Deesan Private Limited commenced on 15.02.2023, and CMA Harshad Deshpande was appointed as the Interim Resolution Professional (IRP).
The admission order was challenged, and the NCLAT, through an interim order on 28.02.2023, stayed the constitution of the Committee of Creditors (CoC) and further CIRP steps, except for the collation and verification of claims.
The NCLAT interim stay was vacated on 01.09.2023, and the Appellant proceeded to constitute the CoC.
In the first CoC meeting on 18.09.2023, it was resolved to replace CMA Harshad Deshpande with Shri Rakesh Kumar Relan as the new Resolution Professional (RP).
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Corporate Insolvency Resolution Process (CIRP)…
The NCLAT issued an interim order staying the…
CMA Harshad Deshpande, the Interim Resolution Professional (IRP) of M/s Shri Tradco Deesan Private Limited, challenged an order from the National Company Law Tribunal (NCLT), Mumbai Bench, dated 07.10.2024. The Corporate Insolvency Resolution Process (CIRP) commenced on 15.02.2023. An NCLAT interim order on 28.02.2023 stayed the constitution of the Committee of Creditors (CoC) but permitted the IRP to continue with collation and verification of claims. After the stay was vacated on 01.09.2023, the CoC replaced Deshpande with Shri Rakesh Kumar Relan as the Resolution Professional (RP). The CoC subsequently partially ratified Deshpande's professional fees, denying payment for the six-month period during which the CoC constitution was stayed (01.03.2023-31.08.2023) and
…The Corporate Insolvency Resolution Process (CIRP) against M/s Shri Tradco Deesan Private Limited commenced on 15.02.2023, and CMA Harshad Deshpande was appointed as the Interim Resolution Professional (IRP).
The admission order was challenged, and the NCLAT, through an interim order on 28.02.2023, stayed the constitution of the Committee of Creditors (CoC) and further CIRP steps, except for the collation and verification of claims.
The NCLAT interim stay was vacated on 01.09.2023, and the Appellant proceeded to constitute the CoC.
In the first CoC meeting on 18.09.2023, it was resolved to replace CMA Harshad Deshpande with Shri Rakesh Kumar Relan as the new Resolution Professional (RP).
…Corporate Insolvency Resolution Process (CIRP)…
The NCLAT issued an interim order staying the…