The case involves an application by JM Financial Asset Reconstruction Company Limited, the financial creditor of the corporate debtor, Jejani Pulp and Paper Private Limited, seeking direction to the liquidator, Prasad Kamlakar Dharap, to charge his fees under Regulation 4(1) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The corporate debtor was ordered into liquidation on 2019-10-18, and the respondent was appointed as the liquidator.
JM Financial Asset Reconstruction Company Limited, the financial creditor, filed an application against Prasad Kamlakar Dharap, the liquidator of Jejani Pulp and Paper Private Limited. The application sought a direction to the liquidator to charge fees under Regulation 4(1) of the IBBI (Liquidation Process) Regulations, 2016. The corporate debtor was ordered into liquidation on 2019-10-18, and the respondent was appointed as the liquidator. The liquidator had forwarded an engagement letter on 2018-12-14 and claimed ₹. 3,15,263/- after the sale of plants and machinery, based on Regulation 4(2)(b). The applicant requested the liquidator to revise fees as per Regulation 4(1) via letter dated 2020-09-12, but the liquidator refused. The CoC did not pass any resolution
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CP (IB) No. 1833/MB/2017…
The Respondent sent an…
The case involves an application by JM Financial Asset Reconstruction Company Limited, the financial creditor of the corporate debtor, Jejani Pulp and Paper Private Limited, seeking direction to the liquidator, Prasad Kamlakar Dharap, to charge his fees under Regulation 4(1) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The corporate debtor was ordered into liquidation on 2019-10-18, and the respondent was appointed as the liquidator.
JM Financial Asset Reconstruction Company Limited, the financial creditor, filed an application against Prasad Kamlakar Dharap, the liquidator of Jejani Pulp and Paper Private Limited. The application sought a direction to the liquidator to charge fees under Regulation 4(1) of the IBBI (Liquidation Process) Regulations, 2016. The corporate debtor was ordered into liquidation on 2019-10-18, and the respondent was appointed as the liquidator. The liquidator had forwarded an engagement letter on 2018-12-14 and claimed ₹. 3,15,263/- after the sale of plants and machinery, based on Regulation 4(2)(b). The applicant requested the liquidator to revise fees as per Regulation 4(1) via letter dated 2020-09-12, but the liquidator refused. The CoC did not pass any resolution
…CP (IB) No. 1833/MB/2017…
The Respondent sent an…