The case involves an application (MA-3635/2019) filed by the Resolution Professional (RP) of Tulsi Extrusions Ltd. seeking payment by Allahabad Bank, a financial creditor and member of the Committee of Creditors (CoC), to cover Corporate Insolvency Resolution Process (CIRP) expenses. The principal sum of Rs. 5,43,994/- minus TDS was paid by Demand Draft dated 21.01.2020. The court considered the matter and directed Allahabad Bank to pay interest at 12% p.a. on that amount within one week from 20.02.2020. Subsequently, Allahabad Bank's counsel handed over a Demand Draft for Rs. 48,959 in favor of the RP. The court had ordered the liquidation of the Corporate Debtor on 20.02.2020. Mr. Amit C. Poddar, the erstwhile RP, filed his consent to act as Liquidator, and he was
…Tulsi Extrusions Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP). The Resolution Professional (RP) filed MA-3635/2019 seeking payment of CIRP expenses by Allahabad Bank, a financial creditor. The expenses amounted to Rs. 5,43,994/-. Allahabad Bank paid the principal amount via Demand Draft dated 21.01.2020. The court directed Allahabad Bank to pay interest at 12% p.a. on the principal amount. Allahabad Bank's counsel handed over a Demand Draft for Rs. 48,959. The court had ordered the liquidation of the Corporate Debtor on 20.02.2020. Mr. Amit C. Poddar, the erstwhile RP, consented to act as Liquidator and was appointed as such. The relevance of these facts lies in the progression of the CIRP, the settlement of financial obligations, and the
…Sign in to view the parties.
The principal sum of…
Court order…
The case involves an application (MA-3635/2019) filed by the Resolution Professional (RP) of Tulsi Extrusions Ltd. seeking payment by Allahabad Bank, a financial creditor and member of the Committee of Creditors (CoC), to cover Corporate Insolvency Resolution Process (CIRP) expenses. The principal sum of Rs. 5,43,994/- minus TDS was paid by Demand Draft dated 21.01.2020. The court considered the matter and directed Allahabad Bank to pay interest at 12% p.a. on that amount within one week from 20.02.2020. Subsequently, Allahabad Bank's counsel handed over a Demand Draft for Rs. 48,959 in favor of the RP. The court had ordered the liquidation of the Corporate Debtor on 20.02.2020. Mr. Amit C. Poddar, the erstwhile RP, filed his consent to act as Liquidator, and he was
…Tulsi Extrusions Ltd. is undergoing Corporate Insolvency Resolution Process (CIRP). The Resolution Professional (RP) filed MA-3635/2019 seeking payment of CIRP expenses by Allahabad Bank, a financial creditor. The expenses amounted to Rs. 5,43,994/-. Allahabad Bank paid the principal amount via Demand Draft dated 21.01.2020. The court directed Allahabad Bank to pay interest at 12% p.a. on the principal amount. Allahabad Bank's counsel handed over a Demand Draft for Rs. 48,959. The court had ordered the liquidation of the Corporate Debtor on 20.02.2020. Mr. Amit C. Poddar, the erstwhile RP, consented to act as Liquidator and was appointed as such. The relevance of these facts lies in the progression of the CIRP, the settlement of financial obligations, and the
…The principal sum of…
Court order…