Authority: National Company Law Tribunal Kochi Bench (Shri Vinay Goel, Member (Judicial) and Shri Ravichandran Ramasamy, Member (Technical))
Order Date: 17 June 2026
Case Overview
The order pertains to two interlocutory applications: IA(IBC)/23/KOB/2025 and IA(IBC)/402/KOB/2024, both in the main insolvency proceeding CP(IBC)/05/KOB/2024 involving Davani Silks Pvt Ltd. The parties include the Resolution Professional (RP) CS Narender Reddy Banala and respondents TS Jayaprakash and four others. The matter concerns the approval of the RP's fee. Learned Counsel Mr. Sankar P Panicker appeared physically for the RP, and C S Mr. Krishnan Unni appeared for Respondent 1 via virtual mode, with no representation for other respondents. Both parties argued at length and filed written submissions. The RP, present virtually, agreed to a monthly fee as stipulated in the written submissions.
Final Outcome
The tribunal reserved orders for both applications after hearing the arguments. No final decision or penalty was issued in this order; the case is pending further orders.
Topics: Insolvency Proceedings, NCLT Order, Resolution Professional Fee