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TMI Blog2022 (5) TMI 257X X X X Extracts X X X X X X X X Extracts X X X X ..... cember, 2021 and on 04th January, 2022, the Adjudicating Authority after noticing the Application and submissions of the Learned Counsel for the Operational Creditor has directed the Status Quo, the IRP virtually effectively functioned only for 14 days. In view of the Status Quo order was not to function any further, it is held that the Order of the Adjudicating Authority directing the payment of fee and CIRP cost of Rs. 1,10,000/- in addition to Rs. 75,000/- was quite reasonable and does not warrant any interference. IRP has filed the Appeal only raising issue of fee whereas he had worked only for 14 days and the direction was issued for payment of fee of Rs. 1,10,000/- plus Rs. 75,000/- which is quite reasonable and appropriate - Appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2022 and 04th January, 2022, Adjudicating Authority has passed an order on the Application that status quo regarding the CIRP be maintained. The Adjudicating Authority on 04th January, 2022 passed following orders: The present application has been filed for withdrawal of CP(IB)No. 171/Chd/Pb/2019 and for setting aside the order dated 22.12.2021 wherein the petition filed under Section 9 of the Code has been admitted. Learned Counsel for the applicant has placed reliance upon the judgment dated 07.07.2021 of the Hon ble NCLAT in Anuj Tejpal, Director of the Suspended Board of Directors OYO hotels and Homes Pvt. Ltd. Vs. Rakesh Yadav dated 07.07.2021; (2021) ibclaw.in 303 NCLAT. Since, the fee of interim Resolution Professional has not b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... utions Pvt. Ltd. Anr. 5. List this application on 19.01.2022. 6. In view of the submissions made by learned counsel for the applicant and the aforesaid orders relied upon by the learned counsel for the applicant, status quo till the next date of hearing regarding the further proceedings under admission order dated 22.12.2021 be maintained by Interim Resolution Professional. 7. Subsequent to the said Order, the notice was issued to the Application to IRP since IRP had not filed 12A application raising the issue of fee of the Interim Resolution Professional. Subsequently, the notice of the Application was given to the IRP and after hearing the IRP, the Adjudicating Authority has passed the Order dated 16th March, 2022. In par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... directed the Status Quo, the IRP virtually effectively functioned only for 14 days. In view of the Status Quo order was not to function any further, we are of the view that Order of the Adjudicating Authority directing the payment of fee and CIRP cost of Rs. 1,10,000/- in addition to Rs. 75,000/- was quite reasonable and does not warrant any interference. 9. Looking to the present case, we are of the view that IRP has filed the Appeal only raising issue of fee whereas he had worked only for 14 days and the direction was issued for payment of fee of Rs. 1,10,000/- plus Rs. 75,000/- which is quite reasonable and appropriate. We are of the view that the Insolvency Proceedings are not the proceedings for only fee of the IRP and RP payment of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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