This appeal was preferred by Sanjay Kumar Ruia, the former Resolution Professional of S.N. Plumbing Private Limited, against an order dated July 25, 2018, passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench. The Adjudicating Authority, while extending the resolution process period under Section 55 of the Insolvency and Bankruptcy Code, 2016 (I&B Code), treated the matter as a 'Fast Track Corporate Insolvency Resolution Process' and determined the Corporate Insolvency Resolution Process fee and costs payable to the Appellant (Sanjay Kumar Ruia). The Adjudicating Authority reduced the amount claimed by the Resolution Professional from Rs. 1,45,92,064/- to Rs. 23,69,064/- plus G.S.T.
Sanjay Kumar Ruia, the former Resolution Professional of S.N. Plumbing Private Limited, filed an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench. The Adjudicating Authority extended the resolution process period under Section 55 of the Insolvency and Bankruptcy Code, 2016 (I&B Code), treating the matter as a 'Fast Track Corporate Insolvency Resolution Process'. The Adjudicating Authority also determined the Corporate Insolvency Resolution Process fee and costs payable to the Appellant (Sanjay Kumar Ruia), reducing the amount claimed by the Resolution Professional from Rs. 1,45,92,064/- to Rs. 23,69,064/- plus G.S.T. The Corporate Insolvency Resolution Process was initiated against S.N. Plumbing Private
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Corporate Insolvency Resolution Process…
Adjudicating Authority passed the impugned…
This appeal was preferred by Sanjay Kumar Ruia, the former Resolution Professional of S.N. Plumbing Private Limited, against an order dated July 25, 2018, passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench. The Adjudicating Authority, while extending the resolution process period under Section 55 of the Insolvency and Bankruptcy Code, 2016 (I&B Code), treated the matter as a 'Fast Track Corporate Insolvency Resolution Process' and determined the Corporate Insolvency Resolution Process fee and costs payable to the Appellant (Sanjay Kumar Ruia). The Adjudicating Authority reduced the amount claimed by the Resolution Professional from Rs. 1,45,92,064/- to Rs. 23,69,064/- plus G.S.T.
Sanjay Kumar Ruia, the former Resolution Professional of S.N. Plumbing Private Limited, filed an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench. The Adjudicating Authority extended the resolution process period under Section 55 of the Insolvency and Bankruptcy Code, 2016 (I&B Code), treating the matter as a 'Fast Track Corporate Insolvency Resolution Process'. The Adjudicating Authority also determined the Corporate Insolvency Resolution Process fee and costs payable to the Appellant (Sanjay Kumar Ruia), reducing the amount claimed by the Resolution Professional from Rs. 1,45,92,064/- to Rs. 23,69,064/- plus G.S.T. The Corporate Insolvency Resolution Process was initiated against S.N. Plumbing Private
…Corporate Insolvency Resolution Process…
Adjudicating Authority passed the impugned…