The case involves an appeal against an order dated 10.02.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Bengaluru Bench) in a Contempt Petition No. 01/2020 in CP (IB) No. 90/BB/2017. The Appellant, the former Resolution Professional of Maxworth Realty India Ltd, filed the appeal because the Adjudicating Authority disposed of the contempt petition without initiating contempt proceedings, giving liberty to the Appellant to persuade the contemnors to pay the outstanding amount. The Appellant argued that the Respondent willfully defaulted on payments despite multiple directions from the Appellate Tribunal and the Adjudicating Authority.
Mr. Ravi Sankar Devarakonda, the former Resolution Professional of Maxworth Realty India Ltd, filed an appeal against an order dated 10.02.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Bengaluru Bench) in Contempt Petition No. 01/2020 in CP (IB) No. 90/BB/2017. The contempt petition was filed because the Respondent, Mr. Kesava Kolar, Managing Director of Maxworth Realty India Ltd, failed to comply with earlier orders directing the Corporate Debtor to pay the Resolution Professional's fees and CIRP expenses. The Adjudicating Authority disposed of the contempt petition without initiating contempt proceedings, giving the Appellant liberty to persuade the contemnors to pay the outstanding amount. The Appellant argued that the Respondent
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Contempt Petition filed…
Appellant appo…
The case involves an appeal against an order dated 10.02.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Bengaluru Bench) in a Contempt Petition No. 01/2020 in CP (IB) No. 90/BB/2017. The Appellant, the former Resolution Professional of Maxworth Realty India Ltd, filed the appeal because the Adjudicating Authority disposed of the contempt petition without initiating contempt proceedings, giving liberty to the Appellant to persuade the contemnors to pay the outstanding amount. The Appellant argued that the Respondent willfully defaulted on payments despite multiple directions from the Appellate Tribunal and the Adjudicating Authority.
Mr. Ravi Sankar Devarakonda, the former Resolution Professional of Maxworth Realty India Ltd, filed an appeal against an order dated 10.02.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Bengaluru Bench) in Contempt Petition No. 01/2020 in CP (IB) No. 90/BB/2017. The contempt petition was filed because the Respondent, Mr. Kesava Kolar, Managing Director of Maxworth Realty India Ltd, failed to comply with earlier orders directing the Corporate Debtor to pay the Resolution Professional's fees and CIRP expenses. The Adjudicating Authority disposed of the contempt petition without initiating contempt proceedings, giving the Appellant liberty to persuade the contemnors to pay the outstanding amount. The Appellant argued that the Respondent
…Contempt Petition filed…
Appellant appo…