9911796707
TMI Blog2023 (8) TMI 550X X X X Extracts X X X X X X X X Extracts X X X X ..... ng and has drawn our attention to the Statement of RP Fees and Expenses (Security, Lawyer etc.), enclosed at page 330 of the appeal paper book. She agrees that an amount of Rs.2,36,000/- remains to be paid as fees, which she accepts will be for the period upto 04.08.2020. In addition, the expenses of Rs.5,22,902/- are payable as legal fees, security guard expenses etc. The RP on being questioned has stated, that the market value of the property of which title deed/document are with the respondent Bank of Baroda is about Rs.2,00,00,000/-. The respondent Bank of Baroda directed to make a payment of RS.3,79,451/- being 50% of the total amount of Rs.7,58,902/- due to RP, within a period of one month from today - appeal disposed off. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e clause, all expenses from the date of appointment of the Resolution Professional For short, RP on 03.01.2020 till the date of OTS Sanction/sanction advice, that is 21.07.2020, have to be met by the respondent Bank of Baroda. Post the OTS sanction/sanction advice, the expenses have to borne and paid by the borrower, that is, the appellant Pitampur Poly Products Limited. Learned counsel appearing for the respondent Bank of Baroda, however, as relied upon clause 10 of the OTS Sanction, which reads: - 10. Settlement will not have any bearing whatsoever on CIRP process as the same is dependent on the discretion of NCLT/NCLAT as per IBC. In our opinion, clause 10 has no relevance to the question of payment of the expense ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earing for the respondent Bank of Baroda states that the Bank has retained the original title deed/document in view of the dispute/issue pertaining to the payment of RP fees and expenses. In case the payment is made to the RP, the original title deed/document will be returned to the appellant Pitampur Poly Products Limited. The RP on being questioned has stated, that the market value of the property of which title deed/document are with the respondent Bank of Baroda is about Rs.2,00,00,000/-(Rupees Two Crores Only). In view of the aforesaid statements, we direct the respondent Bank of Baroda to make a payment of RS.3,79,451/- (Rupees three lakhs seventy nine thousand four hundred fifty one only) being 50% of the total amount o ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
