This case involves an application filed under Rule 11 read with Rule 49 of the National Company Law Tribunal Rules, 2016, seeking to set aside an order dated May 23, 2022, passed by the Adjudicating Authority. The applicant sought to recall or modify the order, which directed the applicant to pay the CIRP cost in favor of the Respondent/IRP. It was alleged that the Respondent did not present clean facts and failed to submit correct details of expenses and fees.
M/s S.S. Engineers initiated a Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor. Mr. Nitesh Kumar More was appointed as the Interim Resolution Professional (IRP). An order dated 12/02/2020 admitted the Corporate Debtor under CIRP, appointing the applicant as IRP. Subsequently, the Hon'ble Supreme Court, in an order dated 26/02/2021, remitted the appeal to the NCLAT for final hearing. The NCLAT, vide order dated 10/01/2022, allowed the appeal and set aside the Adjudicating Authority's order dated 12/02/2020, releasing the Corporate Debtor from CIRP. The IRP filed a Final Progress Report on 08/03/2022, claiming CIRP costs. The Adjudicating Authority passed an order on 23rd May, 2022, directing the applicant to pay the CIRP cost in favor of the
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The Corporate Debtor was…
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This case involves an application filed under Rule 11 read with Rule 49 of the National Company Law Tribunal Rules, 2016, seeking to set aside an order dated May 23, 2022, passed by the Adjudicating Authority. The applicant sought to recall or modify the order, which directed the applicant to pay the CIRP cost in favor of the Respondent/IRP. It was alleged that the Respondent did not present clean facts and failed to submit correct details of expenses and fees.
M/s S.S. Engineers initiated a Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor. Mr. Nitesh Kumar More was appointed as the Interim Resolution Professional (IRP). An order dated 12/02/2020 admitted the Corporate Debtor under CIRP, appointing the applicant as IRP. Subsequently, the Hon'ble Supreme Court, in an order dated 26/02/2021, remitted the appeal to the NCLAT for final hearing. The NCLAT, vide order dated 10/01/2022, allowed the appeal and set aside the Adjudicating Authority's order dated 12/02/2020, releasing the Corporate Debtor from CIRP. The IRP filed a Final Progress Report on 08/03/2022, claiming CIRP costs. The Adjudicating Authority passed an order on 23rd May, 2022, directing the applicant to pay the CIRP cost in favor of the
…The Corporate Debtor was…
The Hon'ble Supreme Court remitted the appeal…
Sign in to view related legal provisions.