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CBI arrests IRP appointed by NCLT

CBI arrests IRP appointed by NCLT

New Delhi: The CBI has arrested an insolvency resolution professional (IRP) appointed by the NCLT and another person for allegedly receiving a bribe of Rs 3.5 lakh from a consultant by threatening him with a criminal case, officials said on Monday.

In what is likely to be the first corruption case by the CBI against an NCLT-appointed IRP, the agency has taken into custody Arun Mohan, the IRP, and his friend Paresh Kumar, CEO of New Delhi-based Multimax Asset Reconstruction Pvt Ltd for allegedly receiving a bribe of Rs 3.5 lakh against a demand of Rs 5 lakh.

The complainant and his wife were appointed as consultants by FRTech, Hyderabad, which became insolvent under the IBC (Insolvency and Bankruptcy Code), the CBI has alleged. For the work done, primarily through e-mails, between March and November, 2017, the couple had raised an invoice of Rs 18 lakh towards the company, they said.

The company had paid them Rs 15.20 lakh while a sum of Rs 2.8 lakh remained outstanding, the officials said.

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