https://www.taxtmi.com/highlights?id=71451 Closure of CIRP - integrity and fairness demanded that the Resolution Professional ought to have facilitated the withdrawal of the CIRP application as was desired by the sole CoC member/Respondent No.1 without unduly prolonging the proceedings. It is commonsensical that for recovery of a claim of about Rs.10 lakhs, incurring an expenditure of Rs.19 lakhs by way of fees/expenses of the Resolution Professional would be outlandish and that too when there seems to be no possibility of revival of the Corporate Debtor - AT en-us Sat, 12 Aug 2023 12:02:43 +0530 Sat, 12 Aug 2023 12:02:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71451 Closure of CIRP - integrity and fairness demanded that the Resolution Professional ought to have facilitated the withdrawal of the CIRP application as was desired by the sole CoC member/Respondent No.1 without unduly prolonging the proceedings. It is commonsensical that for recovery of a claim of about Rs.10 lakhs, incurring an expenditure of Rs.19 lakhs by way of fees/expenses of the Resolution Professional would be outlandish and that too when there seems to be no possibility of revival of the Corporate Debtor - AT Highlights Insolvency and Bankruptcy Sat, 12 Aug 2023 12:02:43 +0530 https://www.taxtmi.com/highlights?id=71451