The case involves a dispute over the fees payable to the Interim Resolution Professional (IRP) in a Corporate Insolvency Resolution Process (CIRP). The CIRP was terminated on March 25, 2019, after an order dated March 11, 2019, admitted the petition. The IRP effected publication, but no claims were received. Publication was effected on March 14, 2019, and the IRP received intimation about the settlement on March 18, 2019. The books of accounts maintained by the Corporate Debtor were sent for valuation, but the name of the valuers was not intimated to the Bench, and no report or receipt of fees advanced was tendered.
The CIRP was terminated on March 25, 2019, following an order dated March 11, 2019. The IRP effected publication, but no claims were received. Publication occurred on March 14, 2019, and the IRP received intimation about the settlement on March 18, 2019. The Corporate Debtor's books were sent for valuation, but the valuer's name was not provided to the Bench, and no report or fee receipt was tendered. The IRP claimed Rs. 2.5 lakhs, with only Rs. 49,000 reimbursed. The IRP is dissatisfied with her fees. The court notes minimal steps taken beyond publication. The relevance of these facts is to determine the appropriate compensation for the IRP's services.
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Order admitti…
IRP effected publication…
The case involves a dispute over the fees payable to the Interim Resolution Professional (IRP) in a Corporate Insolvency Resolution Process (CIRP). The CIRP was terminated on March 25, 2019, after an order dated March 11, 2019, admitted the petition. The IRP effected publication, but no claims were received. Publication was effected on March 14, 2019, and the IRP received intimation about the settlement on March 18, 2019. The books of accounts maintained by the Corporate Debtor were sent for valuation, but the name of the valuers was not intimated to the Bench, and no report or receipt of fees advanced was tendered.
The CIRP was terminated on March 25, 2019, following an order dated March 11, 2019. The IRP effected publication, but no claims were received. Publication occurred on March 14, 2019, and the IRP received intimation about the settlement on March 18, 2019. The Corporate Debtor's books were sent for valuation, but the valuer's name was not provided to the Bench, and no report or fee receipt was tendered. The IRP claimed Rs. 2.5 lakhs, with only Rs. 49,000 reimbursed. The IRP is dissatisfied with her fees. The court notes minimal steps taken beyond publication. The relevance of these facts is to determine the appropriate compensation for the IRP's services.
Order admitti…
IRP effected publication…