The appeal arises from insolvency proceedings against Kavveri Telecom Infrastructure Limited. The National Company Law Tribunal (NCLT) initiated the Corporate Insolvency Resolution Process (CIRP) on March 21, 2019. The first respondent was appointed as the Resolution Professional (RP) on August 26, 2019. The appellant was appointed as a registered valuer on September 16, 2019, to value the plant and machinery at 115 sites. The appellant's fees were ratified by the Committee of Creditors (CoC) on December 9, 2019. The National Company Law Appellate Tribunal (NCLAT) set aside the CIRP on December 18, 2019, and remanded the matter to the NCLT to decide on CIRP costs. The NCLT reduced the RP's fee by 20% on December 20, 2019. The RP cancelled the appellant's appointment on
…Kavveri Telecom Infrastructure Limited faced insolvency proceedings initiated by the NCLT on March 21, 2019. Mrs. Bhuvaneshwari Ramanathan was appointed as the Resolution Professional (RP). Alok Kaushik was appointed as a registered valuer on September 16, 2019, to value the company's plant and machinery across 115 sites. His fees of Rs 7.50 lakhs plus GST were ratified by the Committee of Creditors (CoC) on December 9, 2019. Alok Kaushik claims to have visited 40 sites and conducted valuation work on over 84 sites, incurring expenses of Rs 52,000. The NCLAT set aside the CIRP on December 18, 2019, and the NCLT reduced the RP's fee by 20% on December 20, 2019. The RP cancelled Alok Kaushik's appointment on December 19, 2019. Alok Kaushik was paid Rs 50,000 but the
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NCLT initiated the Corporate Insolvency…
Mrs Bhuvaneshwari…
The appeal arises from insolvency proceedings against Kavveri Telecom Infrastructure Limited. The National Company Law Tribunal (NCLT) initiated the Corporate Insolvency Resolution Process (CIRP) on March 21, 2019. The first respondent was appointed as the Resolution Professional (RP) on August 26, 2019. The appellant was appointed as a registered valuer on September 16, 2019, to value the plant and machinery at 115 sites. The appellant's fees were ratified by the Committee of Creditors (CoC) on December 9, 2019. The National Company Law Appellate Tribunal (NCLAT) set aside the CIRP on December 18, 2019, and remanded the matter to the NCLT to decide on CIRP costs. The NCLT reduced the RP's fee by 20% on December 20, 2019. The RP cancelled the appellant's appointment on
…Kavveri Telecom Infrastructure Limited faced insolvency proceedings initiated by the NCLT on March 21, 2019. Mrs. Bhuvaneshwari Ramanathan was appointed as the Resolution Professional (RP). Alok Kaushik was appointed as a registered valuer on September 16, 2019, to value the company's plant and machinery across 115 sites. His fees of Rs 7.50 lakhs plus GST were ratified by the Committee of Creditors (CoC) on December 9, 2019. Alok Kaushik claims to have visited 40 sites and conducted valuation work on over 84 sites, incurring expenses of Rs 52,000. The NCLAT set aside the CIRP on December 18, 2019, and the NCLT reduced the RP's fee by 20% on December 20, 2019. The RP cancelled Alok Kaushik's appointment on December 19, 2019. Alok Kaushik was paid Rs 50,000 but the
…NCLT initiated the Corporate Insolvency…
Mrs Bhuvaneshwari…