The case involves an application (I.A. (IB) No. 83/KB/2023) filed by the Resolution Professional (RP) of Goouksheer Farm Fresh Private Limited against the Resolution Professional of PM Cold Storage Private Limited and PM Cold Storage Private Limited itself, seeking directions for payment of CIRP costs and discharge of the applicant from his duties as the RP. The Corporate Insolvency Resolution Process (CIRP) was initiated against Goouksheer Farm Fresh Private Limited based on an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The applicant was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP faced challenges in funding the CIRP due to paucity of funds and non-payment of expenses by the
…The Resolution Professional (RP) of Goouksheer Farm Fresh Private Limited filed an application seeking reimbursement of Corporate Insolvency Resolution Process (CIRP) costs and discharge from his duties. The CIRP was initiated based on an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The RP claims that the Committee of Creditors (COC) failed to reimburse the expenses incurred during the CIRP, including statutory compliances and outstanding dues, amounting to Rs. 20,51,168. The RP also alleges that the sole member of the COC, PM Cold Storage Private Limited, failed to pay the promised CIRP expenses. The respondent alleges that the RP charged exorbitant fees and misused his position. The respondent also claims that the RP wrongly inducted New
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Tribunal admitted application under Section 7…
Applicant appointed as Resolution Professional…
The case involves an application (I.A. (IB) No. 83/KB/2023) filed by the Resolution Professional (RP) of Goouksheer Farm Fresh Private Limited against the Resolution Professional of PM Cold Storage Private Limited and PM Cold Storage Private Limited itself, seeking directions for payment of CIRP costs and discharge of the applicant from his duties as the RP. The Corporate Insolvency Resolution Process (CIRP) was initiated against Goouksheer Farm Fresh Private Limited based on an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The applicant was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP faced challenges in funding the CIRP due to paucity of funds and non-payment of expenses by the
…The Resolution Professional (RP) of Goouksheer Farm Fresh Private Limited filed an application seeking reimbursement of Corporate Insolvency Resolution Process (CIRP) costs and discharge from his duties. The CIRP was initiated based on an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The RP claims that the Committee of Creditors (COC) failed to reimburse the expenses incurred during the CIRP, including statutory compliances and outstanding dues, amounting to Rs. 20,51,168. The RP also alleges that the sole member of the COC, PM Cold Storage Private Limited, failed to pay the promised CIRP expenses. The respondent alleges that the RP charged exorbitant fees and misused his position. The respondent also claims that the RP wrongly inducted New
…Tribunal admitted application under Section 7…
Applicant appointed as Resolution Professional…