The case involves an application (I.A No. 586/2025) filed by the Interim Resolution Professional (IRP) of Mindlogicx Infratec Private Limited, seeking directions for payment of professional fees and expenses, and for compliance with procedural requirements for withdrawal of the company petition after a One-Time Settlement (OTS) was reached between the Corporate Debtor and the Financial Creditor.
Corporate Debtor, M/s Mindlogicx Infratec Private Limited, was admitted to CIRP on 09.06.2023.
Union Bank of India, the Financial Creditor, initiated CIRP under Section 7 of IBC.
Ms. R. Bhuvaneshwari was appointed as the Interim Resolution Professional (IRP).
NCLAT stayed the operation of the admission order on 16.06.2023.
The Corporate Debtor and Financial Creditor entered into a One-Time Settlement (OTS).
NCLAT disposed of the appeal on 03.10.2024, closing the CIRP proceedings.
The IRP filed I.A No. 586/2025 seeking payment of Rs 10,67,923/- as fees and costs.
The Corporate Debtor requested the IRP to file Form INC-28 to record the cessation of the IRP's role.
The High Court of Karnataka directed the IRP to file Form INC-28.
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M/S Mindlogicx…
NCLAT stayed the…
The case involves an application (I.A No. 586/2025) filed by the Interim Resolution Professional (IRP) of Mindlogicx Infratec Private Limited, seeking directions for payment of professional fees and expenses, and for compliance with procedural requirements for withdrawal of the company petition after a One-Time Settlement (OTS) was reached between the Corporate Debtor and the Financial Creditor.
Corporate Debtor, M/s Mindlogicx Infratec Private Limited, was admitted to CIRP on 09.06.2023.
Union Bank of India, the Financial Creditor, initiated CIRP under Section 7 of IBC.
Ms. R. Bhuvaneshwari was appointed as the Interim Resolution Professional (IRP).
NCLAT stayed the operation of the admission order on 16.06.2023.
The Corporate Debtor and Financial Creditor entered into a One-Time Settlement (OTS).
NCLAT disposed of the appeal on 03.10.2024, closing the CIRP proceedings.
The IRP filed I.A No. 586/2025 seeking payment of Rs 10,67,923/- as fees and costs.
The Corporate Debtor requested the IRP to file Form INC-28 to record the cessation of the IRP's role.
The High Court of Karnataka directed the IRP to file Form INC-28.
M/S Mindlogicx…
NCLAT stayed the…