The case involves a Company Petition No. (IB) – 415/(PB)/2019 under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. Unimax International, an operational creditor, initiated proceedings against M/S Soho Infrastructure Private Limited, the corporate debtor. The Resolution Professional, Mr. Vijay Kumar, sought discharge from his duties due to the inability of the Committee of Creditors (CoC) to decide on his professional fees. The initial Resolution Professional, Mr. Punkaj Jain, passed away, leading to Mr. Kumar's appointment.
Unimax International initiated Corporate Insolvency Resolution Process (CIRP) against M/S Soho Infrastructure Private Limited. Mr. Punkaj Jain was initially appointed as the Interim Resolution Professional (IRP), but he passed away. Mr. Vijay Kumar was then appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) failed to approve the fees for both the initial IRP and the subsequent RP. The RP, Mr. Vijay Kumar, filed an application seeking discharge from his duties due to the CoC's inaction. Several CoC meetings were held, but no resolution was reached regarding the RP's remuneration. The Adjudicating Authority directed the RP to submit a progress report. The RP filed IA-2865 detailing the progress achieved. The CoC did not respond to E-voting to
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The Adjudicating…
Mr. Punkaj Jain was…
The case involves a Company Petition No. (IB) – 415/(PB)/2019 under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. Unimax International, an operational creditor, initiated proceedings against M/S Soho Infrastructure Private Limited, the corporate debtor. The Resolution Professional, Mr. Vijay Kumar, sought discharge from his duties due to the inability of the Committee of Creditors (CoC) to decide on his professional fees. The initial Resolution Professional, Mr. Punkaj Jain, passed away, leading to Mr. Kumar's appointment.
Unimax International initiated Corporate Insolvency Resolution Process (CIRP) against M/S Soho Infrastructure Private Limited. Mr. Punkaj Jain was initially appointed as the Interim Resolution Professional (IRP), but he passed away. Mr. Vijay Kumar was then appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) failed to approve the fees for both the initial IRP and the subsequent RP. The RP, Mr. Vijay Kumar, filed an application seeking discharge from his duties due to the CoC's inaction. Several CoC meetings were held, but no resolution was reached regarding the RP's remuneration. The Adjudicating Authority directed the RP to submit a progress report. The RP filed IA-2865 detailing the progress achieved. The CoC did not respond to E-voting to
…The Adjudicating…
Mr. Punkaj Jain was…