The application IA No. 468/2022 was filed by the Resolution Professional seeking directions to the respondent, Haryana Telecom Limited, to defray the Corporate Insolvency Resolution Process (CIRP) expenses amounting to Rs. 54,70,342/-, which were already approved according to Section 5(13) of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had admitted CP(IB) No. 515/Chd/Chd/2019 on 07.02.2020, filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by the financial creditor, Parivartan Investment and Finance Company, against the corporate debtor, Haryana Telecom Limited. Sanyam Goel was appointed as Interim Resolution Professional and later confirmed as Resolution Professional by the Committee of Creditors (CoC). The CoC comprised one
…The case involves a dispute over the payment of Corporate Insolvency Resolution Process (CIRP) expenses. Parivartan Investment and Finance Company initiated insolvency proceedings against Haryana Telecom Limited, leading to the appointment of Sanyam Goel as the Resolution Professional. The Resolution Professional filed an application (IA No. 468/2022) seeking directions for Haryana Telecom Limited to pay CIRP expenses amounting to Rs. 54,70,342/-. Haryana Telecom Limited, the respondent, argued that it had already paid Rs. 25,00,000/- towards CIRP costs and that the Resolution Professional was trying to burden them with an excessive amount. The Committee of Creditors (CoC) had approved a resolution plan, and the approval of the plan was pending before the Adjudicating
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Corporate Ins…
Adjudicating Authority admitted the CP(IB) No.…
The application IA No. 468/2022 was filed by the Resolution Professional seeking directions to the respondent, Haryana Telecom Limited, to defray the Corporate Insolvency Resolution Process (CIRP) expenses amounting to Rs. 54,70,342/-, which were already approved according to Section 5(13) of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had admitted CP(IB) No. 515/Chd/Chd/2019 on 07.02.2020, filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by the financial creditor, Parivartan Investment and Finance Company, against the corporate debtor, Haryana Telecom Limited. Sanyam Goel was appointed as Interim Resolution Professional and later confirmed as Resolution Professional by the Committee of Creditors (CoC). The CoC comprised one
…The case involves a dispute over the payment of Corporate Insolvency Resolution Process (CIRP) expenses. Parivartan Investment and Finance Company initiated insolvency proceedings against Haryana Telecom Limited, leading to the appointment of Sanyam Goel as the Resolution Professional. The Resolution Professional filed an application (IA No. 468/2022) seeking directions for Haryana Telecom Limited to pay CIRP expenses amounting to Rs. 54,70,342/-. Haryana Telecom Limited, the respondent, argued that it had already paid Rs. 25,00,000/- towards CIRP costs and that the Resolution Professional was trying to burden them with an excessive amount. The Committee of Creditors (CoC) had approved a resolution plan, and the approval of the plan was pending before the Adjudicating
…Corporate Ins…
Adjudicating Authority admitted the CP(IB) No.…