K.G. Somani & Co., appointed as Forensic Auditor of Carnation Auto India Pvt. Ltd. by Punjab National Bank, filed an application seeking to direct Arvind Garg, the Liquidator for Carnation Auto India Pvt. Ltd., to admit and pay Rs. 5,31,000/- arising out of an invoice dated 09.01.2018. The applicant was engaged for conducting a Forensic Audit of the books of accounts of Carnation Auto India Pvt. Ltd. for a period of six years. During the audit, the company was admitted to the Corporate Insolvency Resolution Process (CIRP) by an order passed by the NCLT on 25.09.2017. A fee of Rs. 3,00,000/- was negotiated by Punjab National Bank with the applicant for conducting the audit under the Insolvency and Bankruptcy Code, 2016. The applicant remained aligned with the IRP/RP
…K.G. Somani & Co. was appointed as the Forensic Auditor of Carnation Auto India Pvt. Ltd. by Punjab National Bank. The appointment was made on 18.07.2017 for a period of six years. The applicant was appointed as Forensic Auditor of Carnation Auto India Pvt. Ltd. by Punjab National Bank. The CIRP was initiated against Carnation Auto India Pvt. Ltd. on 25.09.2017. The applicant raised an invoice of Rs. 5,31,000/- on 09.01.2018 for the Forensic Audit Report dated 03.01.2018. The applicant sought payment of the invoice from the Liquidator, Arvind Garg. The respondent denied that the expenses incurred on forensic audit activity assigned to the Applicant by the financial creditor, Punjab National Bank form part of Insolvency Resolution Process Cost within the purview of
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K.G. Somani & Co. was appointed as Forensic…
CIRP was initiated…
K.G. Somani & Co., appointed as Forensic Auditor of Carnation Auto India Pvt. Ltd. by Punjab National Bank, filed an application seeking to direct Arvind Garg, the Liquidator for Carnation Auto India Pvt. Ltd., to admit and pay Rs. 5,31,000/- arising out of an invoice dated 09.01.2018. The applicant was engaged for conducting a Forensic Audit of the books of accounts of Carnation Auto India Pvt. Ltd. for a period of six years. During the audit, the company was admitted to the Corporate Insolvency Resolution Process (CIRP) by an order passed by the NCLT on 25.09.2017. A fee of Rs. 3,00,000/- was negotiated by Punjab National Bank with the applicant for conducting the audit under the Insolvency and Bankruptcy Code, 2016. The applicant remained aligned with the IRP/RP
…K.G. Somani & Co. was appointed as the Forensic Auditor of Carnation Auto India Pvt. Ltd. by Punjab National Bank. The appointment was made on 18.07.2017 for a period of six years. The applicant was appointed as Forensic Auditor of Carnation Auto India Pvt. Ltd. by Punjab National Bank. The CIRP was initiated against Carnation Auto India Pvt. Ltd. on 25.09.2017. The applicant raised an invoice of Rs. 5,31,000/- on 09.01.2018 for the Forensic Audit Report dated 03.01.2018. The applicant sought payment of the invoice from the Liquidator, Arvind Garg. The respondent denied that the expenses incurred on forensic audit activity assigned to the Applicant by the financial creditor, Punjab National Bank form part of Insolvency Resolution Process Cost within the purview of
…K.G. Somani & Co. was appointed as Forensic…
CIRP was initiated…