The application was filed by the whole-time Director and part of the suspended board of Directors of the corporate debtor, M/s Educomp Infrastructure & School Management Limited, seeking an early conclusion of the Corporate Insolvency Resolution Process (CIRP) and details of expenses incurred by the Committee of Creditors (CoC). The applicant also sought a direction against the Resolution Professional not to release any payment for expenses incurred by the CoC, citing an IBBI Circular dated 12.06.2018. The Resolution Professional sought extensions for completing the CIRP due to pending applications before the Adjudicating Authority. The applicant alleged that the Resolution Professional and CoC were delaying the CIRP, leading to increased costs.
M/s Educomp Infrastructure & School Management Limited is undergoing CIRP. The applicant, the whole-time Director and part of the suspended board of Directors, filed an application seeking an early conclusion of CIRP and details of expenses incurred by the CoC. The applicant also sought a direction against the Resolution Professional not to release any payment for expenses incurred by the CoC, citing an IBBI Circular dated 12.06.2018. The Resolution Professional sought extensions for completing the CIRP due to pending applications before the Adjudicating Authority. The applicant alleged that the Resolution Professional and CoC were delaying the CIRP, leading to increased costs. The CoC approved the Resolution Plan on 23.09.2019 with 100% voting. The application for
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IBBI Circular bearing No.IBBI/IP/013/2018…
The CoC appro…
The application was filed by the whole-time Director and part of the suspended board of Directors of the corporate debtor, M/s Educomp Infrastructure & School Management Limited, seeking an early conclusion of the Corporate Insolvency Resolution Process (CIRP) and details of expenses incurred by the Committee of Creditors (CoC). The applicant also sought a direction against the Resolution Professional not to release any payment for expenses incurred by the CoC, citing an IBBI Circular dated 12.06.2018. The Resolution Professional sought extensions for completing the CIRP due to pending applications before the Adjudicating Authority. The applicant alleged that the Resolution Professional and CoC were delaying the CIRP, leading to increased costs.
M/s Educomp Infrastructure & School Management Limited is undergoing CIRP. The applicant, the whole-time Director and part of the suspended board of Directors, filed an application seeking an early conclusion of CIRP and details of expenses incurred by the CoC. The applicant also sought a direction against the Resolution Professional not to release any payment for expenses incurred by the CoC, citing an IBBI Circular dated 12.06.2018. The Resolution Professional sought extensions for completing the CIRP due to pending applications before the Adjudicating Authority. The applicant alleged that the Resolution Professional and CoC were delaying the CIRP, leading to increased costs. The CoC approved the Resolution Plan on 23.09.2019 with 100% voting. The application for
…IBBI Circular bearing No.IBBI/IP/013/2018…
The CoC appro…