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        Case ID :
        IBC

        NCLAT dismissed the appeal and upheld the impugned order...

        Appeal dismissed: no professional fees for interim stay period where stay precluded CIRP functions and work non-operative

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                NCLAT dismissed the appeal and upheld the impugned order refusing to fix professional fees for the Appellant (formerly the IRP) for the interim stay period. The AT held that the High Court's order operating as a "stay of proceedings" effectively precluded any CIRP functions between 14.08.2023 and 18.03.2025, rendering activities undertaken by the IRP during that exclusionary period non-operative for CIRP purposes. There was no evidence of effective discharge of official duties in furtherance of CIRP that would satisfy quid pro quo for fee entitlement. Consequently, denial of fees for the 19-month stay period was justified and the appeal was dismissed.
                                Note: It is a system-generated summary and is for quick reference only.
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