SHIV POOJA TRADERS Vs. JAMMU PAPER PVT

JUDGEMENT

(1.) This petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (for brevity, the 'Code') was admitted on 10.07.2017. Since the name of the Insolvency Resolution Professional was not proposed, a reference was made to the Insolvency and Bankruptcy Board of India for recommending the name of Insolvency Resolution Professional in terms of Section 16 (3) & (4) of the Code. The Board has sent its recommendations vide email dated 20.07.2017 recommending the name of Mr. Adesh Kumar Singla, House No. 324r Sector 12-A, Panchkula, Haryana-134112 along with his consent and the necessary particulars for his appointment as the Insolvency Resolution Professional, His fee has been fixed at ?50,000/-excJusive of out of pocket expenses and also excluding lodging and boarding, cost of hiring specialist if required, cost of miscellaneous expenses like advertisement in the newspapers etc. and allied activities, like valuation etc. Mr. Adesh Kumar Sirtgla IRP. is present in person.

(2.) In view of the above, I issue the following directions:

(3.) It is further directed that the Interim Insolvency Resolution Professional shall positively file a report of events before this Tribunal every seven days in relation to the 'Corporate Debtor'.