2020 (12) TMI 1346 - AT - Insolvency and Bankruptcy

IRP costs or not - usage charges for the use of slurry pipeline for running the Corporate Debtor as going concern during the Corporate Insolvency Resolution Process period of the Corporate Debtor - HELD THAT - List the matter for admission (after notice) on 22nd January, 2021 at 12 00 Noon.

Summary

Issues:
Impugned order directing payment of IRP costs for the use of slurry pipeline during Corporate Insolvency Resolution Process.

Analysis:
The judgment deals with an appeal challenging an order passed by the Adjudicating Authority regarding the payment of usage charges for a slurry pipeline during the Corporate Insolvency Resolution Process. The Appellant contests the directive to pay IRP costs to a specific entity, claiming that the entity did not claim these costs during the resolution process of the Corporate Debtor. The Resolution Professional's submissions before the Adjudicating Authority are highlighted to support this argument.

The Tribunal issues notices to the Respondents, with notice waiver accepted for Respondent Nos. 1 and 2. Respondents are given a deadline to file their reply affidavits, followed by a provision for the Appellant to file a rejoinder. The Appellant is instructed to provide necessary details and contact information of Respondent No. 3 for effective service of notice through email or other available modes.

The matter is listed for admission after notice on a specified date. Additionally, an ad-interim stay is placed on the operation of the impugned order, specifically regarding the payment to the entity until the next hearing date. A related interim application is disposed of as part of the judgment.