The Insolvency and Bankruptcy Board of India (IBBI) has imposed a monetary penalty on the resolution professional (RP) of insolvent Electrosteel Steels.The Insolvency and Bankruptcy Board of India (IBBI) has imposed a monetary penalty on the resolution professional (RP) of insolvent Electrosteel Steels for failure to consider the claim of an operational creditor, and also for disregarding repeated requests of the Board for a response on the complaint. Passing an order, dated April 13, the bankruptcy board imposed the penalty, which is equal to one-tenth of the total fee payable to Dhaivat Anjaria, a partner at PwC, as the IRP and the RP in the corporate insolvency resolution process of the bankrupt steel maker.
National S…
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