The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The erstwhile Interim Resolution Professional (IRP) stated that an amount of Rs. 21.00 lacs was directed to be paid as an undisputed amount, and it was paid by the Committee of Creditors (CoC). The issue in the application is limited to the amount approved by the CoC but not being paid by the present Resolution Professional (RP) because the CoC had not approved/ratified it.
VE Commercial Vehicles Ltd filed an application against Eagle Corporation Pvt Ltd. The erstwhile IRP stated that Rs. 21.00 lacs was directed to be paid as an undisputed amount, and it was paid by the CoC. The current RP has not paid the amount, stating that the CoC had not approved/ratified it. A complaint has been filed before the IBBI. The issue is limited to the amount approved by CoC, but not being paid by the present RP on the ground that the CoC had not approved/ratified it. The relevance of the facts is that there is a dispute between the RP and the CoC regarding the payment of an amount, and a complaint has been filed before the IBBI.
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An order was issued…
The present or…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The erstwhile Interim Resolution Professional (IRP) stated that an amount of Rs. 21.00 lacs was directed to be paid as an undisputed amount, and it was paid by the Committee of Creditors (CoC). The issue in the application is limited to the amount approved by the CoC but not being paid by the present Resolution Professional (RP) because the CoC had not approved/ratified it.
VE Commercial Vehicles Ltd filed an application against Eagle Corporation Pvt Ltd. The erstwhile IRP stated that Rs. 21.00 lacs was directed to be paid as an undisputed amount, and it was paid by the CoC. The current RP has not paid the amount, stating that the CoC had not approved/ratified it. A complaint has been filed before the IBBI. The issue is limited to the amount approved by CoC, but not being paid by the present RP on the ground that the CoC had not approved/ratified it. The relevance of the facts is that there is a dispute between the RP and the CoC regarding the payment of an amount, and a complaint has been filed before the IBBI.
An order was issued…
The present or…