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Insolvency and Bankruptcy code 2016

Insolvency and Bankruptcy Laws — Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 — Regn. 34 — IBBI’s Circular dt. 12-6-2018:

ByAdvocate Raji Nathani

Recording of reasons for fixation/determination of IRP/RP’s fee is necessary. Ad hoc determination of fee/non-consideration of basis of the claim or its reasonableness is not permissible. Held, setting aside of orders of NCLAT and NCLT.

[Devarajan Raman v. Bank of India Ltd., (2022) 3 SCC 254]

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By Advocate Raji Nathani

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