CHENNAI FERROUS INDUSTRIES LTD Vs. RV STEELS AND POWER PVT LTD
LAWS(NCLT)-2018-1-879
NATIONAL COMPANY LAW TRIBUNAL
Decided on January 25,2018

Chennai Ferrous Industries Ltd Appellant
VERSUS
Rv Steels And Power Pvt Ltd Respondents

JUDGEMENT

- (1.) Irp and PCS representing the IRP are present and stated that the Financial Creditor is not cooperating for constitution of CoC.
(2.) Neither the operational creditor had recommended the name of the IRP nor the Financial Creditor have chosen to pay the IRP for his expenses and remuneration.
(3.) The Financial Creditor and the Operational Creditor should share the remuneration and expenditure on account of the resolution process. The IRP has expressed his inability to continue as IRP/RP.;


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