NCLT Kochi Orders ₹2 Lakh Remuneration to Outgoing Liquidator per IBBI Rules

Asten Realtors Private Limited Vs Piramal Capital and Housing Finance Limited (NCLT Kochi)

NCLT Kochi held that post replacement of Liquidator without specific reason, the remuneration of the outgoing Liquidator is fixed at Rs. 2 Lakh per month which is minimum fees as prescribed by the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

Facts- Adjudicating Authority admitted the application filed by Sri. Chandy John Samuel & Others against the Corporate Debtor u/s.7 of the Insolvency and Bankruptcy Code, 2016 for initiating the

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