CMA Harshad Deshpande, the Interim Resolution Professional (IRP) of M/s Shri Tradco Deesan Private Limited, appealed an NCLT order regarding his professional fees. The core dispute involved the Committee of Creditors' (CoC) refusal to pay full fees for a six-month period (March-August 2023) during which the NCLAT had stayed the constitution of the CoC, allowing only claim collation and verification. The CoC also reduced his agreed monthly fee from INR 2,50,000 to INR 2,00,000 from September 2023 onwards. The NCLT awarded INR 50,000 per month for the stay period and reimbursement of expenses, but denied the full claimed amount.
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 before the NCLAT in Company Appeal (AT) (Insolvency) No. 244 of 2023.
The NCLAT, by an interim order dated 28.02.2023, stayed the constitution of the Committee of Creditors (CoC) but specifically permitted the IRP to continue with collation and verification of claims.
The interim stay granted by the NCLAT was vacated vide order dated 01.09.2023.
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Corporate Insolvency Resolution Process (CIRP)…
NCLAT passed an interim order staying the…
CMA Harshad Deshpande, the Interim Resolution Professional (IRP) of M/s Shri Tradco Deesan Private Limited, appealed an NCLT order regarding his professional fees. The core dispute involved the Committee of Creditors' (CoC) refusal to pay full fees for a six-month period (March-August 2023) during which the NCLAT had stayed the constitution of the CoC, allowing only claim collation and verification. The CoC also reduced his agreed monthly fee from INR 2,50,000 to INR 2,00,000 from September 2023 onwards. The NCLT awarded INR 50,000 per month for the stay period and reimbursement of expenses, but denied the full claimed amount.
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 before the NCLAT in Company Appeal (AT) (Insolvency) No. 244 of 2023.
The NCLAT, by an interim order dated 28.02.2023, stayed the constitution of the Committee of Creditors (CoC) but specifically permitted the IRP to continue with collation and verification of claims.
The interim stay granted by the NCLAT was vacated vide order dated 01.09.2023.
…Corporate Insolvency Resolution Process (CIRP)…
NCLAT passed an interim order staying the…