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A Kumar   19 January 2023

Corporate insolvency resolution process

Hello Sir/ Madam,

In a CIRP , NCLT approved resolution plan and fixed the CIRP Cost to be 40 lacs or actual whichever is higher. Now the RP is demanding rs 80 lacs as CIRP Cost without giving any reasonable explanation. Can he do so? He is asking the homebuyers to pay the cost in equal share (instead of their respective voting share) and he did not ask the secured creditor having major voting share to pay the cost. What can be done against this?


 1 Replies

Sudhir Kumar, Advocate (Advocate)     20 January 2023

Isolvency proceds are to be distributed prorate and not equal.

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