If the admitted application was rejected by the Appellant Tribunal, CIRP cost will be borne by the members of CoC – M/s. Kotak Resources Vs. Dharmendra Dhelaria & Ors. – NCLAT
NCLAT held that since the CoC comprised of both, Appellant and ARCIL, the CIRP costs had necessarily to be borne by them in equal proportion. It is indisputable that the Corporate Debtor could not be saddled with the liability of the CIRP costs. It would be preposterous to hold that the whole amount of the CIRP cost should have been reimbursed by the ARCIL alone to the Resolution Professional.
