The application IA 2110 of 2023 was filed in CP (IB) 1178 of 2017 under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016 by the Applicant/Liquidator of Luthra Water Systems Private Limited, seeking directions for the appointment of an IBA-approved forensic auditor and to direct the Respondents to make provisions for the costs and fees of the auditor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 15.11.2014, and subsequently, liquidation was initiated on 18.12.2019. The applicant had conducted a forensic audit during CIRP and found no discrepancies. The Stakeholders' Consultation Committee (SCC) could not reach a consensus on the period of the forensic audit, the name of the auditor, and the fees.
The Applicant, the liquidator of Luthra Water Systems Pvt. Ltd., filed an application under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the appointment of a forensic auditor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 15.11.2014, followed by liquidation on 18.12.2019. The applicant conducted a forensic audit during CIRP and found no discrepancies. The Stakeholders' Consultation Committee (SCC), consisting of the Respondents, could not reach a consensus on the period, name, and fees for the forensic audit. The liquidation process was delayed due to Covid-19 lockdowns, but the affairs of the Corporate Debtor have now been closed. The applicant submitted that the transaction
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Corporate Insolvency…
Liquidation Process was…
The application IA 2110 of 2023 was filed in CP (IB) 1178 of 2017 under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016 by the Applicant/Liquidator of Luthra Water Systems Private Limited, seeking directions for the appointment of an IBA-approved forensic auditor and to direct the Respondents to make provisions for the costs and fees of the auditor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 15.11.2014, and subsequently, liquidation was initiated on 18.12.2019. The applicant had conducted a forensic audit during CIRP and found no discrepancies. The Stakeholders' Consultation Committee (SCC) could not reach a consensus on the period of the forensic audit, the name of the auditor, and the fees.
The Applicant, the liquidator of Luthra Water Systems Pvt. Ltd., filed an application under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the appointment of a forensic auditor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 15.11.2014, followed by liquidation on 18.12.2019. The applicant conducted a forensic audit during CIRP and found no discrepancies. The Stakeholders' Consultation Committee (SCC), consisting of the Respondents, could not reach a consensus on the period, name, and fees for the forensic audit. The liquidation process was delayed due to Covid-19 lockdowns, but the affairs of the Corporate Debtor have now been closed. The applicant submitted that the transaction
…Corporate Insolvency…
Liquidation Process was…