The case pertains to an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. Radico Khaitan Limited, the Operational Creditor, initiated a Company Petition (IB) No. 74/KB/2020 against Concept Biosciences India Private Limited, the Corporate Debtor. The Interim Resolution Professional (IRP), Ajay Kumar Agarwal, filed an application (I.A. (IB) No. 635/KB/2022) seeking the fixation of his fees, which had not been previously determined. The corporate debtor was admitted into CIRP vide order dated 2022-04-01.
Radico Khaitan Limited initiated a CIRP against Concept Biosciences India Private Limited. Ajay Kumar Agarwal was appointed as the Interim Resolution Professional (IRP). The IRP filed an application seeking the fixation of his fees. The corporate debtor was admitted into CIRP on 2022-04-01. The IRP constituted the CoC on 2022-04-21, which was reconstituted on 2022-05-19. The IRP proposed a remuneration of Rs. 2,00,000 per month, excluding GST, which the CoC refused to pay, requesting a reduction to Rs. 1,25,000 per month. Some CoC members, including Radico Khaitan Limited, Mahima Life Science Private Limited, and ESIC, expressed their inability or unwillingness to contribute to the CIRP costs. The court considered Regulation 34 of the Insolvency and Bankruptcy Board of
…Sign in to view the parties.
Company Petiti…
The corporate…
The case pertains to an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. Radico Khaitan Limited, the Operational Creditor, initiated a Company Petition (IB) No. 74/KB/2020 against Concept Biosciences India Private Limited, the Corporate Debtor. The Interim Resolution Professional (IRP), Ajay Kumar Agarwal, filed an application (I.A. (IB) No. 635/KB/2022) seeking the fixation of his fees, which had not been previously determined. The corporate debtor was admitted into CIRP vide order dated 2022-04-01.
Radico Khaitan Limited initiated a CIRP against Concept Biosciences India Private Limited. Ajay Kumar Agarwal was appointed as the Interim Resolution Professional (IRP). The IRP filed an application seeking the fixation of his fees. The corporate debtor was admitted into CIRP on 2022-04-01. The IRP constituted the CoC on 2022-04-21, which was reconstituted on 2022-05-19. The IRP proposed a remuneration of Rs. 2,00,000 per month, excluding GST, which the CoC refused to pay, requesting a reduction to Rs. 1,25,000 per month. Some CoC members, including Radico Khaitan Limited, Mahima Life Science Private Limited, and ESIC, expressed their inability or unwillingness to contribute to the CIRP costs. The court considered Regulation 34 of the Insolvency and Bankruptcy Board of
…Company Petiti…
The corporate…