This application was filed by the liquidator under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking to modify para 4(b) of an order dated January 10, 2020. The modification pertains to the liquidation cost and the liquidator's fee for the liquidation of the Corporate Debtor, M/s Earth Iconic Infrastructure Private Limited. The Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor was initiated on April 20, 2018. Subsequently, due to the absence of a viable resolution plan and as per the decision of the Committee of Creditors (CoC), the corporate debtor was ordered to be liquidated as per Chapter III Part II of the Code, vide order dated January 10, 2020. The Resolution Professional, Mr. Harish Chander Manchanda, was appointed as
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Earth Iconic Infrastructure Private Limited on April 20, 2018. Due to the absence of a viable resolution plan, the corporate debtor was ordered to be liquidated on January 10, 2020. Mr. Harish Chander Manchanda was appointed as the liquidator. The initial order dated January 10, 2020, fixed the liquidator's fee in proportion to the value of the liquidation estate assets as specified under regulation 4(2) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. However, the Committee of Creditors (CoC) in its 12th meeting held on August 11, 2019, approved the liquidator's fee with a 92% vote share in terms of regulation 39D of the Insolvency and Bankruptcy Board
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Corporate Insolvency Resolution Process…
Corporate debtor ordered…
This application was filed by the liquidator under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking to modify para 4(b) of an order dated January 10, 2020. The modification pertains to the liquidation cost and the liquidator's fee for the liquidation of the Corporate Debtor, M/s Earth Iconic Infrastructure Private Limited. The Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor was initiated on April 20, 2018. Subsequently, due to the absence of a viable resolution plan and as per the decision of the Committee of Creditors (CoC), the corporate debtor was ordered to be liquidated as per Chapter III Part II of the Code, vide order dated January 10, 2020. The Resolution Professional, Mr. Harish Chander Manchanda, was appointed as
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Earth Iconic Infrastructure Private Limited on April 20, 2018. Due to the absence of a viable resolution plan, the corporate debtor was ordered to be liquidated on January 10, 2020. Mr. Harish Chander Manchanda was appointed as the liquidator. The initial order dated January 10, 2020, fixed the liquidator's fee in proportion to the value of the liquidation estate assets as specified under regulation 4(2) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. However, the Committee of Creditors (CoC) in its 12th meeting held on August 11, 2019, approved the liquidator's fee with a 92% vote share in terms of regulation 39D of the Insolvency and Bankruptcy Board
…Corporate Insolvency Resolution Process…
Corporate debtor ordered…