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Impact Event Management and Others V/S Garodia Automobiles Pvt. Ltd. and Others.

    C.A. (IB) No. 432/KB/2019 in C.P. (IB) No. 22/KB/2018

    Decided On, 15 October 2019

    At, National Company Law Tribunal Kolkata

    By, MEMBER

    For Petitioner: Party in Person, Anamika Gayen, Advocates and Rahul Parasrampuria, Pr. C.S. And For Respondents: Swapna Choubey and Ayush Jain, Advocates

Judgment Text

1. C.A. 432/KB/2019 is an application filed by the Interim Resolution Professional (IRP) under Section 60(5) of the I & B Code, 2016 for issuing necessary directions to pay pending fees and cost of the IRP for the service rendered by him and the cost incurred in conducting the CIRP of the Corporate Debtor/Garodia Automobiles Pvt. Ltd. In this regard, the Hon'ble NCLAT by order dated 08.02.2019 in LA. No. 291 of 2019 in Company Appeal (AT) (Insolvency) No. 67 of 2019 stated that:-

"7. The Adjudicating Authority will fix the fee of Interim Resolution Professional', and the 'Corporate Debtor' will pay the fees of the 'Interim Resolution Professional', for the period he has functioned. The appeal is allowed and Interlocutory Applications stand disposed of with aforesaid observation. However, in the facts and circumstances of the case, there shall be no order as to cost. "

2. As per directions of the Hon'ble NCLAT and in exercise of the powers conferred upon this Tribunal under Regulation 33(2) of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for the services rendered by the IRP in conducting CIRP of the Corporate Debtor and the cost incurred by him on public announcement, litigation and travelling expenses, and in view of the vouchers and invoices supporting the said expenses, we fix the fees of the IRP at Rs. 1,50,000/- (Rupees One Lac Fifty Thousand Only) as a consolidated sum to be paid by the Corporate Debtor/Garodia Automobiles Pvt. Ltd. along with Rs. 70,000/- (Rupees Seventy Thousand Only) towards CIRP costs within 10 (ten) days from the date of this order.

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The C.A. 432/KB/2019 is disposed of accordingly. Urgent certified copy of this order, if applied for, be issued upon compliance with all requisite formalities.