NCLAT upheld the NCLT's order rejecting the liquidator's plea for enhanced remuneration and exclusion of seven months from the liquidation period. It held that, under Section 35(1)(f) IBC, the litigations and steps taken to remove encumbrances, lift attachments, and take control of assets are routine statutory duties for effecting sale and value realisation of the corporate debtor's estate, not extraordinary work warranting higher fees or time exclusion. NCLAT found no misinterpretation by NCLT of the liquidator's request as extension of time, and no disregard of binding precedent, and concluded that the application lacked factual foundation and merit. The appeal was dismissed.
NCLAT upheld the NCLT's order rejecting the liquidator's plea for enhanced remuneration and exclusion of seven months from the liquidation period. It held that, under Section 35(1)(f) IBC, the litigations and steps taken to remove encumbrances, lift attachments, and take control of assets are routine statutory duties for effecting sale and value realisation of the corporate debtor's estate, not extraordinary work warranting higher fees or time exclusion. NCLAT found no misinterpretation by NCLT of the liquidator's request as extension of time, and no disregard of binding precedent, and concluded that the application lacked factual foundation and merit. The appeal was dismissed.
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