M/s Raj Process Equipments and Systems Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, before the NCLT Mumbai Bench, numbered as CP (IB) No. 3284/MB/2018. The NCLT admitted the application on 06.03.2019. M/s Welcome Distilleries Private Limited, the respondent, appealed to the NCLAT. The NCLAT set aside the order on 02.08.2019, directing the Adjudicating Authority to decide the fee and cost of the Resolution Professional. The case was transferred to the current Adjudicating Authority and renumbered as TP No. 101/CTB/2019.
M/s Raj Process Equipments and Systems Pvt. Ltd. initiated insolvency proceedings against M/s Welcome Distilleries Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming an outstanding amount of Rs. 10,35,940/-. The NCLT initially admitted the application, but M/s Welcome Distilleries appealed to the NCLAT, which set aside the NCLT's order. During the appeal process, the matter was settled between the parties. The Interim Resolution Professional (IRP) claimed Rs. 11,56,400/-, but M/s Welcome Distilleries stated they had already paid Rs. 2,36,000/- to the IRP. The Resolution Professional did not perform any work during the NCLAT proceedings, and no Committee of Creditors was formed. The key fact is the settlement between the parties during the
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M/s Raj Process Equipments and Systems Pvt.…
Hon'ble NCLT a…
M/s Raj Process Equipments and Systems Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, before the NCLT Mumbai Bench, numbered as CP (IB) No. 3284/MB/2018. The NCLT admitted the application on 06.03.2019. M/s Welcome Distilleries Private Limited, the respondent, appealed to the NCLAT. The NCLAT set aside the order on 02.08.2019, directing the Adjudicating Authority to decide the fee and cost of the Resolution Professional. The case was transferred to the current Adjudicating Authority and renumbered as TP No. 101/CTB/2019.
M/s Raj Process Equipments and Systems Pvt. Ltd. initiated insolvency proceedings against M/s Welcome Distilleries Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming an outstanding amount of Rs. 10,35,940/-. The NCLT initially admitted the application, but M/s Welcome Distilleries appealed to the NCLAT, which set aside the NCLT's order. During the appeal process, the matter was settled between the parties. The Interim Resolution Professional (IRP) claimed Rs. 11,56,400/-, but M/s Welcome Distilleries stated they had already paid Rs. 2,36,000/- to the IRP. The Resolution Professional did not perform any work during the NCLAT proceedings, and no Committee of Creditors was formed. The key fact is the settlement between the parties during the
…M/s Raj Process Equipments and Systems Pvt.…
Hon'ble NCLT a…