The case involves an application filed by the Financial Creditor under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking direction for the respondents to make payments of Resolution Professional fees and expenses of Corporate Insolvency Resolution Process (CIRP) amounting to Rs. 38,21,022/-. The CIRP was initiated against Iris Electro Optics Pvt. Ltd. based on an order dated 28.03.2019. The applicant was appointed as Interim Resolution Professional (IRP). The respondents, Bank of India and Laxmi Kantha Rao Thota, were part of the Committee of Creditors (CoC). The CIRP process completed 32 months, and the original company petition was set aside on 14.02.2022. The applicant claims that the respondents have not paid the CIRP expenses despite approving
…Mr. Chakravarthi Srinivasan was the Erstwhile Resolution Professional of M/s Iris Electro Optics Pvt. Ltd. Bank of India was a member of the CoC. Laxmi Kantha Rao Thota was also a financial creditor. An application was filed by the Financial Creditor seeking payment of Resolution Professional fees and expenses amounting to Rs. 38,21,022/-. The CIRP was initiated against Iris Electro Optics Pvt. Ltd. on 28.03.2019. The applicant was appointed as Interim Resolution Professional (IRP). The respondents, Bank of India and Laxmi Kantha Rao Thota, were part of the Committee of Creditors (CoC). The CIRP process completed 32 months, and the original company petition was set aside on 14.02.2022. The applicant claims that the respondents have not paid the CIRP expenses despite
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Order dated 28.03.2019 ordered the…
Tribunal directed the first respondent…
The case involves an application filed by the Financial Creditor under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking direction for the respondents to make payments of Resolution Professional fees and expenses of Corporate Insolvency Resolution Process (CIRP) amounting to Rs. 38,21,022/-. The CIRP was initiated against Iris Electro Optics Pvt. Ltd. based on an order dated 28.03.2019. The applicant was appointed as Interim Resolution Professional (IRP). The respondents, Bank of India and Laxmi Kantha Rao Thota, were part of the Committee of Creditors (CoC). The CIRP process completed 32 months, and the original company petition was set aside on 14.02.2022. The applicant claims that the respondents have not paid the CIRP expenses despite approving
…Mr. Chakravarthi Srinivasan was the Erstwhile Resolution Professional of M/s Iris Electro Optics Pvt. Ltd. Bank of India was a member of the CoC. Laxmi Kantha Rao Thota was also a financial creditor. An application was filed by the Financial Creditor seeking payment of Resolution Professional fees and expenses amounting to Rs. 38,21,022/-. The CIRP was initiated against Iris Electro Optics Pvt. Ltd. on 28.03.2019. The applicant was appointed as Interim Resolution Professional (IRP). The respondents, Bank of India and Laxmi Kantha Rao Thota, were part of the Committee of Creditors (CoC). The CIRP process completed 32 months, and the original company petition was set aside on 14.02.2022. The applicant claims that the respondents have not paid the CIRP expenses despite
…Order dated 28.03.2019 ordered the…
Tribunal directed the first respondent…