IBBI slaps penalty on Electrosteel resolution professional

NEW DELHI: Insolvency and Bankruptcy Board of India (IBBI) has penalised the Interim Resolution Professional (IRP) Dhaivat Anjaria of Electrosteel Steels for neglecting the claims of an operational creditor of the company. IBBI has directed Anjaria to deposit one tenth of his total fee as resolution professional in the corporate insolvency resolution process (CIRP) of Electrosteel Steels within a month for "utterly" disregarding his statutory duty.