https://www.taxtmi.com/caselaws?id=410579 The Tribunal approved the expenses incurred by the Insolvency Resolution Professional (IRP) during the Corporate Insolvency Resolution Process (CIRP) and ratified a fee of 1,25,000. However, a dispute arose over the proposed monthly fee of 4,00,000, leading to the replacement of the IRP with a new Resolution Professional at reduced remuneration. The Tribunal clarified the Applicant's responsibility to bear expenses initially, subject to reimbursement by the Committee of Creditors (CoC), and ordered payment of the IRP's fee and approved expenses for the specified period in accordance with regulations and legal precedents. en-us Wed, 28 Jul 2021 00:00:00 +0530 Thu, 05 Aug 2021 08:44:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410579 The Tribunal approved the expenses incurred by the Insolvency Resolution Professional (IRP) during the Corporate Insolvency Resolution Process (CIRP) and ratified a fee of 1,25,000. However, a dispute arose over the proposed monthly fee of 4,00,000, leading to the replacement of the IRP with a new Resolution Professional at reduced remuneration. The Tribunal clarified the Applicant's responsibility to bear expenses initially, subject to reimbursement by the Committee of Creditors (CoC), and ordered payment of the IRP's fee and approved expenses for the specified period in accordance with regulations and legal precedents. Case-Laws Insolvency and Bankruptcy Wed, 28 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410579