https://www.taxtmi.com/caselaws?id=419955 The Tribunal granted the application for the appointment of a new Resolution Professional (RP) under Section 22(3)(b) of the Insolvency and Bankruptcy Code, 2016. The disagreement over professional fees between the Interim Resolution Professional (IRP) and the Committee of Creditors (CoC) led to the appointment of Mr. K Parameswaran Nair as the new RP with a reduced monthly fee of Rs. 2,50,000 plus taxes. The Tribunal emphasized compliance with IBBI regulations, CoC approval, and the importance of reasonable fees for Insolvency Professionals, directing the matter to the IBBI for fee standardization in insolvency proceedings. en-us Wed, 16 Mar 2022 00:00:00 +0530 Thu, 24 Mar 2022 09:21:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419955 The Tribunal granted the application for the appointment of a new Resolution Professional (RP) under Section 22(3)(b) of the Insolvency and Bankruptcy Code, 2016. The disagreement over professional fees between the Interim Resolution Professional (IRP) and the Committee of Creditors (CoC) led to the appointment of Mr. K Parameswaran Nair as the new RP with a reduced monthly fee of Rs. 2,50,000 plus taxes. The Tribunal emphasized compliance with IBBI regulations, CoC approval, and the importance of reasonable fees for Insolvency Professionals, directing the matter to the IBBI for fee standardization in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Wed, 16 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419955