The case involves a dispute over the cost incurred by the Interim Resolution Professional (IRP), including professional fees, which has not been reimbursed by the Committee of Creditors (COC). The IRP filed CA 658/2018 regarding this matter. HDFC Bank, appearing as one of the claimants in the COC, argues that the amount claimed as Corporate Insolvency Resolution (CIR) costs during the interim period is excessively inflated, including Rs. 20 lakhs as the IRP's professional fees.
The Interim Resolution Professional (IRP) filed CA 658/2018 seeking reimbursement of costs, including professional fees, which the Committee of Creditors (COC) has not reimbursed. HDFC Bank, representing claimants in the COC, contends that the claimed Corporate Insolvency Resolution (CIR) costs during the interim period are grossly inflated, including Rs. 20 lakhs for the IRP's professional fees. There is no consensus on the fees. The IRP's claim for reimbursement and the COC's disagreement over the amount are central to the dispute. The IRP's professional fees are a key point of contention, with HDFC Bank specifically highlighting the Rs. 20 lakhs figure as excessive.
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CA 658/2018 has been filed by the IRP stating…
Hearing before the New…
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The case involves a dispute over the cost incurred by the Interim Resolution Professional (IRP), including professional fees, which has not been reimbursed by the Committee of Creditors (COC). The IRP filed CA 658/2018 regarding this matter. HDFC Bank, appearing as one of the claimants in the COC, argues that the amount claimed as Corporate Insolvency Resolution (CIR) costs during the interim period is excessively inflated, including Rs. 20 lakhs as the IRP's professional fees.
The Interim Resolution Professional (IRP) filed CA 658/2018 seeking reimbursement of costs, including professional fees, which the Committee of Creditors (COC) has not reimbursed. HDFC Bank, representing claimants in the COC, contends that the claimed Corporate Insolvency Resolution (CIR) costs during the interim period are grossly inflated, including Rs. 20 lakhs for the IRP's professional fees. There is no consensus on the fees. The IRP's claim for reimbursement and the COC's disagreement over the amount are central to the dispute. The IRP's professional fees are a key point of contention, with HDFC Bank specifically highlighting the Rs. 20 lakhs figure as excessive.
CA 658/2018 has been filed by the IRP stating…
Hearing before the New…
Sign in to view related legal provisions.