Resolution process via NCLT
NCLT is appointing various resolution professionals to sort out different problem companies that are either bankrupt or have high debts.
I have heard from 2-3 sources now that there is huge scope of corruption by IRPs as there are little checks/balances and the amounts are big. some are reportedly making money from the company they are selling as well as the buyers.
Can this be looked into? Can people share there experiences? more
I have heard from 2-3 sources now that there is huge scope of corruption by IRPs as there are little checks/balances and the amounts are big. some are reportedly making money from the company they are selling as well as the buyers.
Can this be looked into? Can people share there experiences? more
Viewed by 1082
View all 12 comments Below 12 comments
IRPs are intentionally arranging the way wide so that they can make huge money even through their legitimate charges; the employees who pour their sweat day and night are suffering a lot mentally, physically and economically at least. Where is the NHRC ? is their responsibility seized with so called propaganda and falsification the system ? It is public's anger can change all these bastardy system for corruption . Wait there must be a historical revolution ;which will uproot all these function and by-function which are responsible for deteriorating the health of our society ! If PPL have rights to give mandate for formation of (Government) system they have also duties to pull out the mandate and change the system. "Our suffering is yet to reach the utmost depth of worsen where it catches the igniting temperature to catch fire ." Hope it will reach the pick soon............. more
Sep 19
Who will look into this? One corrupt entity to look into the corruption of another entity established for the specific purpose of sharing the loot? more
Sep 16
This country, INDIA, is one of the most lawless, undisciplined and corrupt countries in the WORLD. The way in which this country is being so shamelessly and generously looted by every Tom, Dick and Harry - EVERY POLITICIAN FROM EVERY POLITICAL party - with Helpless or spineless judiciary as mute spectator - it is suggested that we stop discussing CORRUPTION through this CIRCLE. This country is beyond repairs for several centuries to come as indulging in corruption has now become your constitutionally guaranteed right and privilege. No questions asked. No Accountability assigned. No guilty ever hanged. more
Sep 15
Money is every where. Officers can make money from a Seek industry or profitable industry. more
Sep 12
It should be incumbent on NCLT which is a Court to ensure that transactions done under its aegis are totally above board and that, for the purpose, all necessary safeguards are built into its orders. Since acceptance of bribes by by IRPs is done secretly and privately, the checks should obviously on the tangible benefits redounding to IRPs like lavish spending on celebrations on occasions like weddings, birthdays and/or investment in valuables like properties or jewellery. NCLT can activate Anti-corruption Bureaus to keep surveillance on IRPs, Lawyers, Valuers and others concerned. more
Sep 07
