CIRP Regulation 34A says that the IRP/RP shall disclose item wise insolvency resolution process costs – Bharat Hotels Limited Vs. Tapan Chakraborty, RP of RDG Interior Decoration Exterior Architecture Pvt. Ltd. – NCLT Kolkata Bench
The Adjudicating Authority held that whereas, Section 18 of the Code envisages the Duties of the Interim Resolution Professional and Regulation 34A of the Insolvency Resolution Process for the Corporate Person says that the interim resolution professional or the resolution professional, as the case may be, shall disclose item wise insolvency resolution process costs in such manner as may be required by the Board. The Board herein refers to the Insolvency and Bankruptcy Board of India. Hence, we do not find that this instant Application has any right or locus under section Section 18 of the Code read with Regulation 34A of the Insolvency Resolution Process for the Corporate Person or any other provisions under the Code. The Application is hereby rejected.