The appeal was filed against the order dated 17.03.2021 in CP (IB) No.157/9/NCLT/AHM/2019, where a Section 9 IBC application was filed by Centillion Solutions & Services Pvt Ltd (Operational Creditor). The NCLT allowed the application and appointed Mr. Pradeep Srivastava as the IRP. The parties later settled the matter outside court, informing the Tribunal on 17.06.2021. The Tribunal directed the parties to file a hard copy of the settlement. The Tribunal noted the absence of any mention of the IRP's professional fees in the settlement terms and directed the filing of an additional affidavit. The IRP appeared and was directed to file an affidavit indicating his fees and expenses.
Centillion Solutions & Services Pvt Ltd filed a Section 9 application under the IBC against Jaysuklal Naranbhai Gohel. The NCLT admitted the application and appointed Pradeep Srivastava as the IRP. Subsequently, the parties reached a settlement outside of court. The settlement terms were presented to the NCLAT. The NCLAT observed that the settlement agreement did not address the IRP's fees. The IRP submitted an affidavit detailing his fees and expenses, totaling Rs. 4,45,587. The NCLAT, after considering the matter, directed the appellant to pay a reduced amount of Rs. 2,50,000 to the IRP. The appellant had filed an appeal against the initial NCLT order. The NCLAT allowed the appeal and quashed the proceedings before the NCLT.
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Order passed by NCLT in CP (IB)…
Learned counsel for the appellant informed the…
The appeal was filed against the order dated 17.03.2021 in CP (IB) No.157/9/NCLT/AHM/2019, where a Section 9 IBC application was filed by Centillion Solutions & Services Pvt Ltd (Operational Creditor). The NCLT allowed the application and appointed Mr. Pradeep Srivastava as the IRP. The parties later settled the matter outside court, informing the Tribunal on 17.06.2021. The Tribunal directed the parties to file a hard copy of the settlement. The Tribunal noted the absence of any mention of the IRP's professional fees in the settlement terms and directed the filing of an additional affidavit. The IRP appeared and was directed to file an affidavit indicating his fees and expenses.
Centillion Solutions & Services Pvt Ltd filed a Section 9 application under the IBC against Jaysuklal Naranbhai Gohel. The NCLT admitted the application and appointed Pradeep Srivastava as the IRP. Subsequently, the parties reached a settlement outside of court. The settlement terms were presented to the NCLAT. The NCLAT observed that the settlement agreement did not address the IRP's fees. The IRP submitted an affidavit detailing his fees and expenses, totaling Rs. 4,45,587. The NCLAT, after considering the matter, directed the appellant to pay a reduced amount of Rs. 2,50,000 to the IRP. The appellant had filed an appeal against the initial NCLT order. The NCLAT allowed the appeal and quashed the proceedings before the NCLT.
Order passed by NCLT in CP (IB)…
Learned counsel for the appellant informed the…