https://www.taxtmi.com/caselaws?id=304924 The Tribunal directed the Committee of Creditors (CoC) to pay a consolidated fee of Rs. 15,00,000 to the Resolution Professional for the entire Corporate Insolvency Resolution Process (CIRP) period within two weeks. The CoC's failure to provide reasons for rejecting the fee proposal and their actions were deemed irrational and unjustifiable by the Tribunal. The Resolution Professional's responsibilities were found to exceed those of the Interim Resolution Professional, leading to the decision in favor of the Resolution Professional. en-us Fri, 06 Aug 2021 00:00:00 +0530 Sun, 06 Nov 2022 17:46:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304924 The Tribunal directed the Committee of Creditors (CoC) to pay a consolidated fee of Rs. 15,00,000 to the Resolution Professional for the entire Corporate Insolvency Resolution Process (CIRP) period within two weeks. The CoC's failure to provide reasons for rejecting the fee proposal and their actions were deemed irrational and unjustifiable by the Tribunal. The Resolution Professional's responsibilities were found to exceed those of the Interim Resolution Professional, leading to the decision in favor of the Resolution Professional. Case-Laws Insolvency and Bankruptcy Fri, 06 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304924