Sir IRP i.e Interim Reslution Professional appointed by OC filing for Insolvency for first 30 days post which COC appoints different RP.Hence IRP & RP can be different persons. Query 1.Whose duty is it to appoint 2 valuers IRP or RP to determine liquidation value 2. if OC doesnt pay the IRP fees/costs (1st 30 days) & COC also doesnt approve reasonable fees what recourse does the IRP have to recover his costs & fees?

During the CIRP process Query 1. Who is required to appoint 2 Valuers to determine liquidation value the IRP or the RP appointed by the COC. incase where IRP & RP are different persons ? 2. Who shall pay fees of IRP if OC doesnt pay & COC does not approve its cost & RP fees ? 3. What recourse does IRP have ?

Dear Sir, As Sec 185(1), does not explain about giving of Loan by a company directly/indirectly to a Proprietorship concern in which director of the company is proprietor. Query- As this provision, is not specifically mentioned in 185, so can we say that a company CAN GIVE Loan/Advance to a Proprietorship concern in which the director of company is proprietor ??

Dear Sir, A company (X Ltd) is engaged in manufacturing activity. One of the whole-time director of company is Proprietor of a business (M/s "A" ) which is engaged in Transportation Activity. The Trucks of M/s A also Transports the goods manufactured by the X Ltd. X Ltd pays Freight to M/s A. Query- If X Ltd gives Advance payment (of Freight) to M/s A,can it be regarded as Loan under company law ?? 2) Whether it is prohibited u/s 185 & 186 of Co.Act,13 ??

Sir, once the resolution plan is approved by NCLT the IRP shall discontinue as such and COC shall be disbanded. Please guide about the following: 1. Whether any filing is required to be made to RoC 2. In terms of resolution plan, a Monitoring Committee is required to be constituted during the transition period i.e. from approval date to next three months. For these months who shall act as Board of Directors as IRP will not continue post approval

In case of Gov. dues if dues are accrued after last date of submitting claim before IRP/RP or Liquidator in that situation what is is the status of that dues? And what is the procedure to register that claim?

In a case of Builder Company CIRP was admitted. RP was appointed & process started around 16 months back.Still no order passed by NCLT neither any resolution nor liquidation.CD is absconding. No data provided to RP. What course of action can the CD or FC/OC take ? Will this be taken as failure of the RP ? What should the RP do in case he could not go forward due to lack of data/Accounts, only certain claims received of FC & investors of flats ?

In a case of Builder Company CIRP was admitted. RP was appointed & process started around 16 months back. Still no order passed by NCLT neither any resolution nor liquidation. What course of action can the CD take ? Wont this be taken as failure of the RP ? What should the RP do in case he could not go forward due to lack of data/Accounts, only certain claims received of investors of flats ?

Bank is wanting to take physical possession of a running factory with 65 employees of a CD. The A/c is NPA since 3 years. The Chief Metropolitan Megistrate (CMM) has given order for taking Physical Possession. Query 1. Can the CD approach DRT or the CMM to get stay against possession ?? What other recourse can the CD take ?

An OC filing for CIRP against a CD. Query 1.Is it mandatory to include interest in the outstanding amount receivable while filing Inslovency petition with NCLT ?? 2. If Yes whether interest calculation should simple interest or compounded ?

A Company under going liquidation has NIL assets hence the RP should file for dissolution. The Company directors are facing cases U/s 138 for cheque Returns on behalf of the Company. Query 1. What would be the impact of Company dissolution on the 138 cases. 2. Since the Company has no assets only liabilties can the Court still prosecute the directors in 138 cases.3. Company/Liquidator filing for Company dissolution would that be in favour of directors or against them ?

Sir The Holding company is already undergoing CIRP and the resolution plan is going to be submitted in a day or two. Just before the submission of resolution plan, the financial creditors' petition for CIRP of subsidiary is also admitted by the NCLT. The subsidiary was given the loan by the financial creditors by pledging the investment in subsidiary made by the holding company. What shall be the impact upon the holding company in CIRP and resolution plan

An NPA company but working as a going concern running factory having 62 employees has received order for Physical possession of factory under Sarfeisi through Chief Metropolitan Megistrate (CMM). What recourse does the Company have to hold this possession. 1. Can it approach CMM to stay possession do you think they will accept ? 2. File with NCLT to start CIRP 3. Any other option to protect the functioning Company from closure?

IN case of a operational Company in CIRP say original claims were 1.50 Crores but with continuing business the claims reach 1.75 crores Will the additional OC's or Fc's of 25 Lacs be included in CIRP process cost & given priority in money received thru resolution applicant ?? 2. What if one of the OC is favoured by RP and cleared his liability during CIRP, can other OC's file case against the RP? for preferential transaction ??

An NPA company but working as a going concern running factory having 62 employees has received order for Physical possession of factory under Sarfeisi. What recourse does the Company have to hold this possession. 1. Can it approach CMM to stay possession do you think they will accept ? 2. File with NCLT to start CIRP 3. Any other option ?