9911796707
TMI Blog2024 (1) TMI 938X X X X Extracts X X X X X X X X Extracts X X X X ..... e is no denial that in pursuance of order dated 01.12.2022, Rs. 5 Lakh has not been deposited. The stand taken by the Appellant is that said amount is towards fee and expenses for the IRP and expenses are being regularly paid. He submits that appellant is always ready to pay the reasonable fees to the IRP and the Affidavit which was filed on 28th November, 2023, explanation has not been adverted to. Had the Adjudicating Authority adverted to the Affidavit filed by the Financial Creditor on 28th November, 2023, there would not have been any observation that there has been wilful disobedience of the Order. The ends of justice be served in setting aside the order dated 29th November, 2023 and remitting the matter to the Adjudicating Authori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In the meeting held on 02.01.2023 of the CoC, Resolution was passed for replacement of IRP with the new one and on the said ground application was filed for replacement which could be approved by the Order dated 2nd June, 2023. The Financial Creditor informed the IRP that invoice sent with respect to the professional fees and other expenses has not been ratified by the CoC on 07th July, 2023. Application was filed seeking direction to CoC to ratify and remit the fee and expenses of the IRP incurred thereafter time was taken by the Financial Creditor to file a Reply. A Reply was filed to the I.A. No. 1252 of 2023 on 19th August, 2023. On 13.09.2023, the Adjudicating Authority issued a show cause notice for violation of order dated 01st Decem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Learned counsel for the Respondent submits that IRP is entitled for fee till order is passed by the Adjudicating Authority and minimum fee is Rs. 1 Lakh per month hence the amount communicated by the IRP i.e. Rs. 7,00,762/- which is professional fee, expenses, etc. is in accordance with law. 12. There is no denial that in pursuance of order dated 01.12.2022, Rs. 5 Lakh has not been deposited. The stand taken by the Appellant is that said amount is towards fee and expenses for the IRP and expenses are being regularly paid. He submits that appellant is always ready to pay the reasonable fees to the IRP and the Affidavit which was filed on 28th November, 2023, explanation has not been adverted to. Had the Adjudicating Authority adverted to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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