The case involves an application (IA/533(AHM)2024) filed in CP(IB)/40(AHM)2023 seeking the appointment of a Resolution Professional (RP) and allocation of funds for the Corporate Insolvency Resolution Process (CIRP) of Ramos Ceramics Private Limited. The Interim Resolution Professional (IRP), Bhavan Trivedi, filed the application after the Committee of Creditors (CoC) failed to approve his appointment as RP and his proposed fees. The CIRP was initiated based on an application under Section 9 of the IBC filed by Sicer India Private Limited (R1), an operational creditor. The CoC, comprising operational creditors, could not reach a resolution on appointing a new RP.
The Corporate Debtor, Ramos Ceramics Private Limited, was admitted into CIRP via an order dated 2024-02-14. Bhavan Trivedi was appointed as the Interim Resolution Professional (IRP). The CIRP was initiated based on an application filed under Section 9 of the IBC by Sicer India Private Limited (R1), an operational creditor. The Committee of Creditors (CoC) was formed, consisting exclusively of operational creditors. In the first CoC meeting held on 2024-03-18, the members failed to reach a resolution regarding the appointment of a new RP. The IRP sought confirmation of his expenses, but two members, including the original applicant (operational creditor), did not ratify them. One member abstained and later withdrew their claim and sought removal from the CoC. Respondent
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Corporate D…
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The case involves an application (IA/533(AHM)2024) filed in CP(IB)/40(AHM)2023 seeking the appointment of a Resolution Professional (RP) and allocation of funds for the Corporate Insolvency Resolution Process (CIRP) of Ramos Ceramics Private Limited. The Interim Resolution Professional (IRP), Bhavan Trivedi, filed the application after the Committee of Creditors (CoC) failed to approve his appointment as RP and his proposed fees. The CIRP was initiated based on an application under Section 9 of the IBC filed by Sicer India Private Limited (R1), an operational creditor. The CoC, comprising operational creditors, could not reach a resolution on appointing a new RP.
The Corporate Debtor, Ramos Ceramics Private Limited, was admitted into CIRP via an order dated 2024-02-14. Bhavan Trivedi was appointed as the Interim Resolution Professional (IRP). The CIRP was initiated based on an application filed under Section 9 of the IBC by Sicer India Private Limited (R1), an operational creditor. The Committee of Creditors (CoC) was formed, consisting exclusively of operational creditors. In the first CoC meeting held on 2024-03-18, the members failed to reach a resolution regarding the appointment of a new RP. The IRP sought confirmation of his expenses, but two members, including the original applicant (operational creditor), did not ratify them. One member abstained and later withdrew their claim and sought removal from the CoC. Respondent
…Corporate D…
First meeting of the CoC convened; members…
Sign in to view related legal provisions.