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Insolvency and BankruptcySeptember 26, 2020Case LawsTri
Direction for payment of outstanding amount of CIRP expenses and the contribution towards the liquidation cost - being satisfied that IFCI's inclusion as a member in the CoC is disputed by the remaining financial creditors, it appears to me that IFCI cannot be compelled to contribute its part of share towards the CIRP and Liquidation cost. Part payment voluntarily made by the IFCI does not bar it from disputing its liability to pay the amount as demanded by the liquidator. - Tri
Direction for payment of outstanding amount of CIRP expenses and the contribution towards the liquidation cost - being satisfied that IFCI's inclusion as a member in the CoC is disputed by the remaining financial creditors, it appears to me that IFCI cannot be compelled to contribute its part of share towards the CIRP and Liquidation cost. Part payment voluntarily made by the IFCI does not bar it from disputing its liability to pay the amount as demanded by the liquidator. - Tri
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