The case involves an application filed by the applicant/erstwhile RP seeking direction against the respondent to pay the fees and expenses incurred during the CIRP proceeding of the Corporate Debtor. The applicant was initially appointed as IRP and later confirmed as RP. However, the CoC was not satisfied with the applicant's performance and decided to appoint another RP, Mr. Devvart Rana. The applicant was discharged from duties, and Mr. Devvart Rana was appointed as RP. The applicant claims outstanding fees and expenses, while the respondent/RP denies the pleadings and submits that the CoC has called for meetings to rectify the costs.
Diwan Chand Arya, the applicant, was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) for the Corporate Debtor, Sikkim Hydro Power Ventures Limited. During the Corporate Insolvency Resolution Process (CIRP), the Committee of Creditors (CoC) became dissatisfied with the performance of Diwan Chand Arya and decided to appoint Mr. Devvart Rana as the new RP. Diwan Chand Arya was discharged from his duties. The applicant is claiming outstanding fees and expenses amounting to Rs. 21,58,195/- for the period he served as IRP/RP until 11.11.2020. The CoC initially fixed the professional fees at Rs. 5 lakhs per month. The respondent/RP, acting as the Corporate Debtor, denied the pleadings made in the application. The
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Company Petition No.…
Tribunal admitted the application under…
The case involves an application filed by the applicant/erstwhile RP seeking direction against the respondent to pay the fees and expenses incurred during the CIRP proceeding of the Corporate Debtor. The applicant was initially appointed as IRP and later confirmed as RP. However, the CoC was not satisfied with the applicant's performance and decided to appoint another RP, Mr. Devvart Rana. The applicant was discharged from duties, and Mr. Devvart Rana was appointed as RP. The applicant claims outstanding fees and expenses, while the respondent/RP denies the pleadings and submits that the CoC has called for meetings to rectify the costs.
Diwan Chand Arya, the applicant, was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) for the Corporate Debtor, Sikkim Hydro Power Ventures Limited. During the Corporate Insolvency Resolution Process (CIRP), the Committee of Creditors (CoC) became dissatisfied with the performance of Diwan Chand Arya and decided to appoint Mr. Devvart Rana as the new RP. Diwan Chand Arya was discharged from his duties. The applicant is claiming outstanding fees and expenses amounting to Rs. 21,58,195/- for the period he served as IRP/RP until 11.11.2020. The CoC initially fixed the professional fees at Rs. 5 lakhs per month. The respondent/RP, acting as the Corporate Debtor, denied the pleadings made in the application. The
…Company Petition No.…
Tribunal admitted the application under…