This Interlocutory Application (IA No. 228/JPR/2023) was filed by the Erstwhile Resolution Professional (ERP), Mr. Naresh Kumar Munjal, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions against Punjab & Sind Bank for payment of fees amounting to Rs. 23,63,888/- plus traveling and out-of-pocket expenses of Rs. 1,03,500/-. The Adjudicating Authority had admitted IB No.03/JPR/2018 under Section 9 of the IBC, filed by M/s UVA Engineers Private Limited against M/s Maha Associated Hotels Private Limited. Mr. Brij Mohan Sharma was appointed as Interim Resolution Professional, later replaced by the Applicant. The Applicant then filed an IA to recuse himself, and the CoC suggested Mr. Tara Chand Meenia as the new RP, who was appointed by
…M/s UVA Engineers Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s Maha Associated Hotels Private Limited. Mr. Naresh Kumar Munjal was appointed as the Resolution Professional (RP). He later filed an application to recuse himself from the responsibility. The Committee of Creditors (CoC) suggested the name of Mr. Tara Chand Meenia for appointment as RP. The Adjudicating Authority appointed Mr. Tara Chand Meenia as the RP. Mr. Munjal, the erstwhile RP, filed a claim of Rs. 23,63,888/- towards his fee and Rs. 1,03,500/- for traveling and out-of-pocket expenses. The CoC rejected the claim due to deficiencies in the work of the RP, including failure to take physical possession of the project site and failure to file Income Tax, GST, and
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Corporate Insolvency Resolution Process (CIRP)…
Appointment of the…
This Interlocutory Application (IA No. 228/JPR/2023) was filed by the Erstwhile Resolution Professional (ERP), Mr. Naresh Kumar Munjal, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions against Punjab & Sind Bank for payment of fees amounting to Rs. 23,63,888/- plus traveling and out-of-pocket expenses of Rs. 1,03,500/-. The Adjudicating Authority had admitted IB No.03/JPR/2018 under Section 9 of the IBC, filed by M/s UVA Engineers Private Limited against M/s Maha Associated Hotels Private Limited. Mr. Brij Mohan Sharma was appointed as Interim Resolution Professional, later replaced by the Applicant. The Applicant then filed an IA to recuse himself, and the CoC suggested Mr. Tara Chand Meenia as the new RP, who was appointed by
…M/s UVA Engineers Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s Maha Associated Hotels Private Limited. Mr. Naresh Kumar Munjal was appointed as the Resolution Professional (RP). He later filed an application to recuse himself from the responsibility. The Committee of Creditors (CoC) suggested the name of Mr. Tara Chand Meenia for appointment as RP. The Adjudicating Authority appointed Mr. Tara Chand Meenia as the RP. Mr. Munjal, the erstwhile RP, filed a claim of Rs. 23,63,888/- towards his fee and Rs. 1,03,500/- for traveling and out-of-pocket expenses. The CoC rejected the claim due to deficiencies in the work of the RP, including failure to take physical possession of the project site and failure to file Income Tax, GST, and
…Corporate Insolvency Resolution Process (CIRP)…
Appointment of the…