ONE PAGE 33 – In the matter of M/s Charming Apparels Pvt Ltd & Ors

ONE PAGE 33 – In the matter of M/s Charming Apparels Pvt Ltd & Ors
RP to pay the Professional Fee of erstwhile IRP from Contingency Funds of the RPlan
Court:  NCLT Delhi & NCLAT Principal Bench AT# 638/2020 Dt 03.06.2021

1. Background:

a. Appeal filed by Erstwhile IRP for nonpayment of his professional fee.

b. Appropriate Authority has fixed the professional fee as 8.5lacs, respondents paid Rs.5 lakhs and have not yet paid the balance 3.5lakhs

c. Appellant prays for a direction to respondents to pay the professional fee + interest + litigation cost.

d. RP submits that there is no specific direction for paying the remaining professional fee and hence not paid.

2. NCLAT Evaluation & Judgment:

a. With the consent of the Respondents, NCLAT directed that the remaining professional fee of 3.5 lakhs be paid to the erstwhile IRP(Appellant) by the RP within 15 days from the contingency funds of the Resolution Plan.

b. If RP fails to pay within 15 days, then with interest @ 8% has to be paid from the date of this till realization. Disposed with no costs.

MS Mano Ranjani

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