The case pertains to an application filed by the Resolution Professional (RP) under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking a direction from the NCLT for the Committee of Creditors (CoC) to pay the Corporate Insolvency Resolution Process (CIRP) expenses and the RP's fees. The CIRP was initiated following the admission of a petition under Section 7 of the IBC filed by a financial creditor, M/s India Resurgence ARC Private Limited. The RP was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. The CoC was reconstituted, and meetings were held to approve the RP's fees and out-of-pocket expenses. However, the CoC did not pay the CIRP expenses despite repeated follow-ups.
The Resolution Professional (RP), Malireddy Ramana Reddy, filed an application under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking payment of Corporate Insolvency Resolution Process (CIRP) expenses and fees from the Committee of Creditors (CoC). The CIRP was initiated against Master Weaver Ethnics Private Limited based on a petition filed by India Resurgence ARC Private Limited under Section 7 of the IBC. The RP was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Public announcement was made on 2022-04-10. The first CoC meeting was held on 2022-05-12, where the RP's fees and expenses were approved. The CoC was reconstituted, and subsequent meetings were held on 2022-02-25 and 2022-08-26 to
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Tribunal admitted the petition under section 7…
Applicant/RP issued Public Announcement in…
The case pertains to an application filed by the Resolution Professional (RP) under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking a direction from the NCLT for the Committee of Creditors (CoC) to pay the Corporate Insolvency Resolution Process (CIRP) expenses and the RP's fees. The CIRP was initiated following the admission of a petition under Section 7 of the IBC filed by a financial creditor, M/s India Resurgence ARC Private Limited. The RP was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. The CoC was reconstituted, and meetings were held to approve the RP's fees and out-of-pocket expenses. However, the CoC did not pay the CIRP expenses despite repeated follow-ups.
The Resolution Professional (RP), Malireddy Ramana Reddy, filed an application under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking payment of Corporate Insolvency Resolution Process (CIRP) expenses and fees from the Committee of Creditors (CoC). The CIRP was initiated against Master Weaver Ethnics Private Limited based on a petition filed by India Resurgence ARC Private Limited under Section 7 of the IBC. The RP was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Public announcement was made on 2022-04-10. The first CoC meeting was held on 2022-05-12, where the RP's fees and expenses were approved. The CoC was reconstituted, and subsequent meetings were held on 2022-02-25 and 2022-08-26 to
…Tribunal admitted the petition under section 7…
Applicant/RP issued Public Announcement in…