https://www.taxtmi.com/caselaws?id=374019 The Tribunal found the lump sum fee of Rs. 5 lakh directed by the Adjudicating Authority for the Interim Resolution Professional to be excessive and arbitrary. The fee was reduced to Rs. 1.75 lakh, with an additional Rs. 25,000 for travel expenses, based on the lack of expenses incurred and the circumstances. The Tribunal emphasized compliance with the Insolvency and Bankruptcy Code provisions for appointing and determining fees for the Interim Resolution Professional. The decision addressed the issues of excessive fee determination, interpretation of relevant provisions, and the appropriate fee payable, modifying the original order accordingly. en-us Thu, 13 Dec 2018 00:00:00 +0530 Thu, 24 Jan 2019 07:27:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374019 The Tribunal found the lump sum fee of Rs. 5 lakh directed by the Adjudicating Authority for the Interim Resolution Professional to be excessive and arbitrary. The fee was reduced to Rs. 1.75 lakh, with an additional Rs. 25,000 for travel expenses, based on the lack of expenses incurred and the circumstances. The Tribunal emphasized compliance with the Insolvency and Bankruptcy Code provisions for appointing and determining fees for the Interim Resolution Professional. The decision addressed the issues of excessive fee determination, interpretation of relevant provisions, and the appropriate fee payable, modifying the original order accordingly. Case-Laws Insolvency and Bankruptcy Thu, 13 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374019