M/s. Naresh Kumar & Company Pvt. Ltd. initiated a case against Kalyanpur Cements Ltd. under the Insolvency and Bankruptcy Code (IBC). The Resolution Professional (RP) submitted a progress report. The report revealed that the RP charged Rs. 4,25,000 plus taxes for the month of August 2017. Subsequently, the RP charged a lump sum of Rs. 1,75,000 per month starting from September 2017. The court observed that there was no explanation provided for the increase in fees for the month of August 2017. The court found the difference in fees significant, with the August fees being approximately three times higher than the September fees. This discrepancy raised concerns about the reasonableness and justification of the fees charged by the RP.

M/s. Naresh Kumar & Company Pvt. Ltd. initiated a case against Kalyanpur Cements Ltd. under the Insolvency and Bankruptcy Code (IBC). The Resolution Professional (RP) submitted a progress report. The report revealed that the RP charged Rs. 4,25,000 plus taxes for the month of August 2017. Subsequently, the RP charged a lump sum of Rs. 1,75,000 per month starting from September 2017. The court observed that there was no explanation provided for the increase in fees for the month of August 2017. The court found the difference in fees significant, with the August fees being approximately three times higher than the September fees. This discrepancy raised concerns about the reasonableness and justification of the fees charged by the RP.