The case involves an application (IA No. 108/JPR/2023) filed by Vasundhra Gupta, the suspended director of M/s Aesthetic Stone Arts India Pvt. Ltd. ('Corporate Debtor'), under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of NCLT Rules, 2016. The application seeks reliefs related to the CIRP cost approved in the 15th COC meeting. The Adjudicating Authority had admitted the application filed by Sanwar Mal Tiwari ('Operational Creditor') under Section 9 of the IBC for initiating CIRP against the Corporate Debtor. The applicant challenges the CIRP costs approved by the Committee of Creditors (COC), specifically those approved in the 15th COC meeting dated 03.02.2023, claiming they are unjust and arbitrary. The applicant also seeks to quash
…Sanwar Mal Tiwari, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Aesthetic Stone Arts India Pvt. Ltd. The Adjudicating Authority admitted the application on 04.03.2020. Vasundhra Gupta, the suspended director of the corporate debtor, filed IA No. 108/JPR/2023 challenging the CIRP costs approved in the 15th COC meeting dated 03.02.2023. The applicant claimed the approved costs were unjust and arbitrary, particularly the professional fees of the Resolution Professional (RP), Mr. Vijendra Bangar. The applicant had previously filed IA No. 320/JPR/2021 seeking to quash the minutes of the 13th and 14th COC meetings, which is pending adjudication. The RP was directed to convene a COC meeting to discuss the non-consideration of the
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Adjudicating Authority admitted the application…
Mr. Vijendra Bangar was appointed as the RP…
The case involves an application (IA No. 108/JPR/2023) filed by Vasundhra Gupta, the suspended director of M/s Aesthetic Stone Arts India Pvt. Ltd. ('Corporate Debtor'), under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of NCLT Rules, 2016. The application seeks reliefs related to the CIRP cost approved in the 15th COC meeting. The Adjudicating Authority had admitted the application filed by Sanwar Mal Tiwari ('Operational Creditor') under Section 9 of the IBC for initiating CIRP against the Corporate Debtor. The applicant challenges the CIRP costs approved by the Committee of Creditors (COC), specifically those approved in the 15th COC meeting dated 03.02.2023, claiming they are unjust and arbitrary. The applicant also seeks to quash
…Sanwar Mal Tiwari, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Aesthetic Stone Arts India Pvt. Ltd. The Adjudicating Authority admitted the application on 04.03.2020. Vasundhra Gupta, the suspended director of the corporate debtor, filed IA No. 108/JPR/2023 challenging the CIRP costs approved in the 15th COC meeting dated 03.02.2023. The applicant claimed the approved costs were unjust and arbitrary, particularly the professional fees of the Resolution Professional (RP), Mr. Vijendra Bangar. The applicant had previously filed IA No. 320/JPR/2021 seeking to quash the minutes of the 13th and 14th COC meetings, which is pending adjudication. The RP was directed to convene a COC meeting to discuss the non-consideration of the
…Adjudicating Authority admitted the application…
Mr. Vijendra Bangar was appointed as the RP…