This case involves an appeal against an order dated 07.12.2022 passed by the Adjudicating Authority, National Company Law Tribunal, Mumbai Bench, directing Shri Guru Containers (the Appellant) to reimburse the Interim Resolution Professional (IRP) a total cost of Rs. 5,62,000/-. The Section 9 petition was admitted against Tarang Exports Private Limited, the Corporate Debtor. The Operational Creditor/Appellant did not propose the name of the IRP, hence the Adjudicating Authority appointed the IRP. The IRP issued a public announcement on 11.03.2020. Due to the Covid-19 pandemic and subsequent lockdown, the Operational Creditor could not follow up on the progress of the CIRP until end-September 2020. The IRP filed an application under Section 19 of IBC for issue of
…Shri Guru Containers, the Appellant, filed an appeal against the Adjudicating Authority's order dated 07.12.2022, which directed them to reimburse Rs. 5,62,000/- to the Interim Resolution Professional (IRP). A Section 9 petition was admitted against Tarang Exports Private Limited, the Corporate Debtor. The Appellant, being the Operational Creditor, did not propose an IRP, leading the Adjudicating Authority to appoint one. The IRP issued a public announcement on 11.03.2020. The Covid-19 pandemic hindered the Operational Creditor's follow-up on the CIRP. The IRP filed applications under Section 19 and Section 60 of the IBC, seeking information, reimbursement, and termination of the CIRP. The Appellant contended the IRP failed in his duties, while the IRP claimed he
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Section 9 petition was admitted against…
This case involves an appeal against an order dated 07.12.2022 passed by the Adjudicating Authority, National Company Law Tribunal, Mumbai Bench, directing Shri Guru Containers (the Appellant) to reimburse the Interim Resolution Professional (IRP) a total cost of Rs. 5,62,000/-. The Section 9 petition was admitted against Tarang Exports Private Limited, the Corporate Debtor. The Operational Creditor/Appellant did not propose the name of the IRP, hence the Adjudicating Authority appointed the IRP. The IRP issued a public announcement on 11.03.2020. Due to the Covid-19 pandemic and subsequent lockdown, the Operational Creditor could not follow up on the progress of the CIRP until end-September 2020. The IRP filed an application under Section 19 of IBC for issue of
…Shri Guru Containers, the Appellant, filed an appeal against the Adjudicating Authority's order dated 07.12.2022, which directed them to reimburse Rs. 5,62,000/- to the Interim Resolution Professional (IRP). A Section 9 petition was admitted against Tarang Exports Private Limited, the Corporate Debtor. The Appellant, being the Operational Creditor, did not propose an IRP, leading the Adjudicating Authority to appoint one. The IRP issued a public announcement on 11.03.2020. The Covid-19 pandemic hindered the Operational Creditor's follow-up on the CIRP. The IRP filed applications under Section 19 and Section 60 of the IBC, seeking information, reimbursement, and termination of the CIRP. The Appellant contended the IRP failed in his duties, while the IRP claimed he
…Mention of C…
Section 9 petition was admitted against…