Failure to complete CIRP in Time Bound Manner: NCLAT approves Reduced Fee payable to RP

CIRP in Time Bound Manner - NCLAT approves Reduced Fee payable to RP -NCLAT -Failure to complete CIRP - taxscan

The New Delhi bench of the National Company Law Appellate Tribunal( NCLAT ) approved the reduced Fee payable to Resolution Process(RP) on failure to complete Corporate Insolvency Resolution Process (“CIRP”) in Time Bound Manner. India Resurgence ARC Pvt. Ltd., the appellant filed appeal under Section 61 of Insolvency and Bankruptcy Code, 2016 (“IBC”) arises out…

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