The Committee of Creditors (CoC), represented by UCO Bank, filed an application to replace the existing Interim Resolution Professional (IRP), Mr. S. Rajagopal, with Mr. Ebenezar Inbaraj. This application stems from a resolution passed during the 3rd CoC meeting held on April 22, 2019. The National Company Law Tribunal (NCLT) is considering forwarding the name of the proposed Resolution Professional to the Insolvency and Bankruptcy Board of India (IBBI) for confirmation. The order also clarifies that the CoC is responsible for covering the fees of the IRP and the Corporate Insolvency Resolution Process (CIRP) costs. The matter was heard on April 23, 2019, and is scheduled to be listed again on May 2, 2019.

The Committee of Creditors (CoC), represented by UCO Bank, filed an application to replace the existing Interim Resolution Professional (IRP), Mr. S. Rajagopal, with Mr. Ebenezar Inbaraj. This application stems from a resolution passed during the 3rd CoC meeting held on April 22, 2019. The National Company Law Tribunal (NCLT) is considering forwarding the name of the proposed Resolution Professional to the Insolvency and Bankruptcy Board of India (IBBI) for confirmation. The order also clarifies that the CoC is responsible for covering the fees of the IRP and the Corporate Insolvency Resolution Process (CIRP) costs. The matter was heard on April 23, 2019, and is scheduled to be listed again on May 2, 2019.