9911796707
TMI Blog2019 (3) TMI 1521X X X X Extracts X X X X X X X X Extracts X X X X ..... rties order of admission or rejection should have been passed. Admittedly, in this case, such procedure was not followed by the Adjudicating Authority and for said reason, the impugned order dated 28th September, 2018 being violative of principle of natural justice, we set aside the said impugned order. In view of the Letter of Settlement, we are not remitting the matter to the Adjudicating Author ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to function independently through its Board of Directors from immediate effect. The Adjudicating Authority will decide the fee of ‘Interim Resolution Professional’ and the actual expenditure to which he is entitled and the ‘Corporate Debtor’ will pay the same. The appeal is allowed with aforesaid observations. - Company Appeal (AT) (Insolvency) No. 733 of 2018 - - - Dated:- 20-12-2018 - M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce on behalf of the Adjudicating Authority was served on the Appellant. She further submits that in the meantime parties have entered a settlement by Settlement Letter dated 28th November, 2018 and part payment has also been made. 3. Mr. Sumesh Dhawan, learned counsel appearing on behalf of the Financial Creditor referred to paragraph 4 of the impugned order to suggest that notice for admission ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edly, in this case, such procedure was not followed by the Adjudicating Authority and for said reason, the impugned order dated 28th September, 2018 being violative of principle of natural justice, we set aside the said impugned order. In view of the Letter of Settlement, we are not remitting the matter to the Adjudicating Authority. However, on failure to act as per settlement, it will be open to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ently through its Board of Directors from immediate effect. 7. The Adjudicating Authority will decide the fee of Interim Resolution Professional and the actual expenditure to which he is entitled and the Corporate Debtor will pay the same. 8. The appeal is allowed with aforesaid observations. However, in the facts and circumstances of the case, there shall be no order as to cost. - - ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
