View Disclosure
Form I : Detail of Corporate Debtor Undergoing Insolvency Resolution Process
(To be submitted by the
IRP/RP
with
Seven Days
of his demitting office as IRP/RP)
Name of Corporate Debtor:
Ind Barath Power Gencom Limited
CIN of Corporate Debtor:
NA
Date of Commencement of CIRP:
07-09-2018
Assets(in Rs) as on the last balance sheet date (write date here):
8030000000.00
07-09-2018
Turnover(in Rs) in the last finacial year (write year here):
172900000
2018
No. of Workmen as on the date of commencement of CIRP:
0
No. of Employees as on the date of Commencement of CIRP:
35
Number of Claimants(Workmen & Employees):
0
Total Amount(in Rs) of Claims Admitted on the day of demitting office as IRP(Workmen & Employees):
0.00
Number of Claimants(Financial Creditor):
8
Total Amount(in Rs) of Claims Admitted on the day of demitting office as IRP(Financial Creditor):
4390000000.00
Number of Claimants(Operational Creditor):
35
Total Amount(in Rs) of Claims Admitted on the day of demitting office as IRP(Operational Creditor):
510000000.00
Name of RP:
ANISH NANAVATY
Registration No. of RP:
IP/N00272
Date of Demitting office by RP:
30-01-2019
Form II : Detail of Corporate Debtor Undergoing Insolvency Resolution Process
(To be submitted by the
IRP
with
Seven Days
of his demitting office as IRP/RP)
Activity/ Expense
Head / Expense Sub-Head
Amount of Expense (Rs.)
Amount Ratified/
Approved
2
By
% Of Specific
Cost/ Total Cost
% of Specific Ratified Cost / Total Ratified Cost
Remarks
Running Process / IRP
*
Fee Payable to IRP
161290.00
48387.00
3.47
1.74
It may be noted that 30% of the total expense incurred (excluding taxes and Out of Pocket Expenses) is ratified by CoC for payment from its contribution and balance fee amount to be recoverable from Applicant – Operational Creditor.
Cost of Insurance for IRP
0.00
0.00
0.00
0.00
Other Expenses on/ for IRP
(Travel, stay, security, etc related to)
0.00
0.00
0.00
0.00
OPE in respect to IRP has been included under the sub head “Other Expenses on/for the professionals”
Running Process / IPE (Registered Valuer)
*
Fee Payable for support services to an IPE, if any
0.00
0.00
0.00
0.00
Fee Payable to Valuer 1
525000.00
525000.00
11.29
18.91
Fee Payable to Valuer 2
500000.00
500000.00
10.75
18.01
Other Expenses on/ for Valuers
(Travel, stay, other out-of-pocket)
0.00
0.00
0.00
0.00
At actuals subject to maximum of INR 65,000
Running Process / Other Professionals engaged for CIRP, not for Corporate Debtor
*
Fee Payable to Accounting and Finance Professionals
0.00
0.00
0.00
0.00
Fee Payable to Audit Professionals
0.00
0.00
0.00
0.00
Fee Payable to Legal Professional
551783.00
181725.00
11.86
6.54
It may be noted that 30% of the total expense incurred (excluding taxes, Out of Pocket Expenses and NCLAT matters) is ratified by CoC for payment from its contribution and balance fee amount to be recoverable from Applicant – Operational Creditor.
Fee Payable to any other professionals other Expenses on/ for Professionals
(Travel, stay, other out-of-expenses)
1836403.00
444283.00
39.48
16.00
IRP has taken support from Deloitte Touché Tohmatsu India LLP in discharging his duty as required under the Code and for advisory services. 30% of the total expense incurred (excluding taxes and Out of Pocket Expenses) is ratified by CoC.
Running Process / COC Meetings
*
Meeting Venue
0.00
0.00
0.00
0.00
Video Conferencing
0.00
0.00
0.00
0.00
Any other Expenses related to COC
0.00
0.00
0.00
0.00
Running Process / Other Expenses
*
Expenses on Pubic Announcement
248320.00
248320.00
5.34
8.94
Expenses on CIRP Related Filings before adjudicating authority and CIRP related litigation
0.00
0.00
0.00
0.00
“Expenses on CIRP related filings before Adjudicating Authority” and “Other Authorities and CIRP related Litigation” are included in “Fee Payable to Legal Professionals”
Running Business / Essential Services
*
Electricity
0.00
0.00
0.00
0.00
Water
0.00
0.00
0.00
0.00
Telecommunication Services
0.00
0.00
0.00
0.00
Information Technology Services
0.00
0.00
0.00
0.00
Other Essential Services, if Any
0.00
0.00
0.00
0.00
Running Business / Other Services
*
Other Supplies
0.00
0.00
0.00
0.00
Employess and Workmen
829144.00
829144.00
17.82
29.86
Employee and Workmen Salary pertains to the month of September 2018
Security Personnel Services
0.00
0.00
0.00
0.00
Other Expenses, If any
0.00
0.00
0.00
0.00
Running Business / Interim Finance
*
Amount of Interim Finance
0.00
0.00
0.00
0.00
Expenses for Raising Interim Finance
0.00
0.00
0.00
0.00
Interest Payable on Interim Finance
0.00
0.00
0.00
0.00
Other Expenses, If any
0.00
0.00
0.00
0.00
Other Expenses, if any, directly related to CIRP
*
Other Expenses
0.00
0.00
0.00
0.00
Total Cost
4651940.00
2776859.00
Form III : Detail of Corporate Debtor Undergoing Insolvency Resolution Process
(To be submitted by the
RP
with
Seven Days
of his demitting office as IRP/RP)
Date of Joining as RP:
25-10-2018
Date of Demitting officer as RP:
30-01-2019
Activity/ Expense Head / Expense Sub-Head
Amount of Expense (Rs.)
Amount Retified/ Approved
2
By CoC
% of expense cost/ Total Cost
% of Specific Ratified Cost / Total Ratified Cost
Running Process / RP
Fee Payable to RP
314086.00
314086.00
2.30
2.73
Cost of Insurance for RP
1800000.00
1800000.00
13.19
15.67
Other Expenses on/ for RP
(Travel, stay, security, etc related to)
0.00
0.00
Fee payable for support services to an IPE, if Any
0.00
0.00
Running Process / Registered Valuer
Fee Payable to Valuer 1
0.00
0.00
Fee Payable to Valuer 2
0.00
0.00
Fee Payable to Valuer 3, if any
0.00
0.00
Fee Payable for support services to an IPE, if any
0.00
0.00
Running Process / Other Professional engaged for CIRP, not for Corporate Debtor
Fee Payable to Accounting and Finance Professionals
0.00
0.00
Fee Payable to audit professionals
0.00
0.00
Fee Payable to Legal Professional
2386250.00
2386250.00
17.49
20.77
Fee Payable to any other professionals other Expenses on/ for Professionals
(Travel, stay, other out-of-expenses)
3400350.00
3400350.00
24.92
29.59
Data Room Service
112320.00
112320.00
0.82
0.98
Running Process / COC Meeting
Meeting Venue
0.00
0.00
Video Conferencing
0.00
0.00
Electronic Voting
0.00
0.00
Expenses for or by Authorized
0.00
0.00
Any other Expenses related to CoC
0.00
0.00
Running Process / Examination of Transactions
Preferential Transactions
919672.00
919672.00
6.74
8.00
Under/ Over-valued transactions
0.00
0.00
Extortionate transactions
0.00
0.00
Fraudulent Transactions
0.00
0.00
Running Process / Other Expenses
Expenses on CIRP related
0.00
0.00
Filings before adjudicating
0.00
0.00
CIRP Related Litigation
0.00
0.00
Running Business / Essential Services
Electricity
0.00
0.00
Water
7125.00
7125.00
0.05
0.06
Telecommunication Services
0.00
0.00
Information Technology Services
0.00
0.00
Other Essential Services, if Any
0.00
0.00
Running Business / Other Services
Other Supplies
0.00
0.00
Employess and Workmen
819971.00
819971.00
6.01
7.14
Security Personnel Services
1234243.00
1234243.00
9.05
10.74
Other Expenses, If any
2301114.00
145600.00
16.86
1.27
Running Business / Interim Finance
Amount of Interim Finance
0.00
0.00
Expenses for raising Interim Finance
0.00
0.00
Interest payable on Interim Finance
0.00
0.00
Other Expenses, If any directly related to
0.00
0.00
Other Expenses, if any, directly related to CIRP
Other Expenses
350000.00
350000.00
2.57
3.05
Amount due to prejudicially affected persons
Other Expenses
0.00
0.00
Remarks:
1. It may be noted that the above expenses are excluding of applicable taxes. Further, it may be noted that the said Order also directs the following: “The ‘Committee of Creditors’ of respective appeals are directed to decide the fee and resolution cost incurred by respective ‘Resolution Professionals’ preferably within two weeks and communicate to the respective ‘Corporate Debtors’. The ‘Corporate Debtors’ will pay the cost and fees and the cost incurred for resolution process by respective ‘Resolution Professionals’. If the cost have been paid to the ‘Resolution Professionals’ by the ‘Committee of Creditors’, as informed, then the ‘Committee of Creditors’ will inform the respective ‘Corporate Debtors’, the cost incurred towards the ‘resolution fee’ and ‘resolution process’ and the respective ‘Corporate Debtors’ will pay the amount to the ‘Committee of Creditors’ within 30 days thereof.” 2. OPE in respect incurred by the RP has been included under the sub head “Other Expenses on/for the professionals”. 3. RP has taken support from Deloitte Touché Tohmatsu India LLP in discharging his duty as required under the Code and for advisory services. 4. Fees in respect to Haribhakti & Co LLP includes OPE for performing transaction review audit 5. “Expenses on CIRP related filings before Adjudicating Authority” and “Other Authorities and CIRP related Litigation” are included in “Fee Payable to Legal Professionals” 6. Water Supply expenses pertains to month September 2018 and October 2018 7. Employee and workmen Salary pertains to the month of October 2018 8. Security Personnel charges – Hawk Security pertains to the month of September and October 2018 9. CoC members were informed in 6th CoC meeting on the requirement of renewal of Insurance policy for the power plant of Corporate Debtor on or before January 09, 2019. The insurance premium has been made. However, on account of the passing of the said Order, the ratification of the said payment is pending. 10. CoC has approved contribution of INR 1.26 crore to be made by the CoC members towards CIRP cost.
Total Cost
13645131.00
11489617.00
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