CIRP - Service of notice when admitted claim of Operational ...

Case Laws Insolvency and Bankruptcy

April 21, 2023

CIRP - Service of notice when admitted claim of Operational Creditors is 10% - It is held that it is incumbent upon the RP to serve notice of each meeting of the CoC to the Operational Creditors or their representatives if the amount of the aggregated due is not less than 10% of the debt. Since, in this case, it is found that no notice was given by the RP to the Operational Creditors, therefore, it is a dereliction of duty on his part for which he deserves to be burdened with costs. The cost is assessed at Rs. 1 Lakh which shall be paid by the RP to the Operational Creditors (Appellants), - AT

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CIRP - Service of notice when admitted claim of Operational ...

Case Laws Insolvency and Bankruptcy

April 21, 2023

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