9911796707
TMI Blog2020 (11) TMI 586X X X X Extracts X X X X X X X X Extracts X X X X ..... was of the view that Regulation 39D provides for fixation of the fees separately by the Committee of Creditors for the three periods given in Section 39D and the fees in the instant case was not governed by Section 39D as the order of liquidation came to be passed under Section 33(1) (a) of the I B Code . Be that as it may, the order of liquidation has been passed and the Corporate Debtor is unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ained. The impugned order is accordingly set aside to the limited extent of remuneration of the liquidator and it is directed that the liquidator s remuneration will be governed in accordance with the recommendation of the Committee of Creditors - Appeal disposed off. - Company Appeal (AT) (Insolvency) No. 980 of 2020 - - - Dated:- 18-11-2020 - [Justice Bansi Lal Bhat] Acting Chairperson, [ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h a voting share of 69.48% approved the contribution of estimated expenses of the liquidation by the Financial Creditors in an escrow account in the ratio of their claims. The Committee of Creditors vide the same resolution and the same voting shares approved the remuneration of the Appellant for the conduct of liquidation proceedings at ₹ 50,000/- per month or such proportion to the value o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ors has taken a decision in regard to the liquidation costs, expenses and the remuneration payable to the liquidator which in the light of the recommendation of the Committee of Creditors with the requisite percentage brings it within the ambit of Regulation 39D. Therefore, it is not permissible to take resort to any other provision which would be attracted only if the action of the Committee of C ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
