9911796707
TMI Blog2021 (12) TMI 1273X X X X Extracts X X X X X X X X Extracts X X X X ..... . 1 to 5, who are the Members of the Stakeholders Consultation Committee to pay a sum of ₹ 75000/- per month to the present applicant/erstwhile Liquidator for the period 06.01.2020 to 06.01.2021 during which he worked as the Liquidator of the Corporate Debtor - application allowed. - IA-716/2021 in IB-1251/ND/2018 - - - Dated:- 21-12-2021 - Bachu Venkat Balaram Das, Member (J) And Narender Kumar Bhola, Member (T) For the Appellant : Mayuri Raghuvansh and Yash Aggarwal, Advocates For the Respondents : Sanjay Jain and Ishita Jain, Advocates ORDER Bachu Venkat Balaram Das, Member (J) 1. The instant Application has been filed by erstwhile liquidator of M/s. Newgen Speciality Plastics Ltd., (CD) appointed by this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 52/- as expenses and from the stakeholders a sum of ₹ 22,59,935/- (PNB- ₹ 18,12,883/- and Hero Fin Corp- ₹ 4,47,052/-) were reimbursed and the remaining ₹ 5,82,517/was paid from realization from debtors and available funds of the CD, hence no expenses remains to be unpaid except few expenses like remaining statutory auditor's fee of ₹ 1.00 Lac and transaction auditor fee of ₹ 1.00 Lac which shall be paid by the present liquidator after examining the records. He also submitted that CoC/stakeholders did not mandate for the payment of monthly fee in the meetings held on 19.03.2021 and 17.06.2021. 4. Admittedly, the present Applicant was appointed as a Liquidator and functioned as such from 06.01.2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e deem it appropriate to allow this application and direct that the Applicant is entitled to get his fees during the period he functioned as the Liquidator. Under the peculiar facts and circumstances of the present case we deem it appropriate to direct the respondent no. 1 to 5, who are the Members of the Stakeholders Consultation Committee to pay a sum of ₹ 75000/- per month to the present applicant/erstwhile Liquidator for the period 06.01.2020 to 06.01.2021 during which he worked as the Liquidator of the Corporate Debtor. The said amount of ₹ 75,000 per month shall form part of the overall liquidator's remuneration payable under the rules taken along with the amount of remuneration payable/paid to the present liquidator. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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