The Adjudicating Authority, Mumbai Bench, Court III, admitted an application No. 4065/MB/2018, filed under Section 7 of the Code against the Corporate Debtor on 25.04.2019. The Interim Resolution Professional caused a public announcement calling claims from the creditors. He received the claims, verified the same and constituted the Committee of Creditors. Religare Finvest had 69.02% of voting power of Committee of Creditors. Later Religare Finvest assigned the debt to India Resurgence Arc Private limited and the said company became a creditor in lieu of Religare Finvest.
The Interim Resolution Professional was later appointed as Resolution Professional and he was offered Rs. 3.75 lakhs plus GST per month as his remuneration as approved …
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