https://www.taxtmi.com/caselaws?id=294906 The Appellate Tribunal directed the Adjudicating Authority to determine the fee of the Resolution Professional and the cost of the Corporate Insolvency Resolution Process to be borne by the Financial Creditor. The Adjudicating Authority approved a consolidated fee of Rs. 5 Lakhs + GST for the Resolution Professional, considering the work duration and expenses incurred. The Tribunal dismissed the appeal, emphasizing that fee fixation is not solely at the discretion of the Committee of Creditors but should be based on the professional's work and expenses. This decision clarifies the process of determining fees for Resolution Professionals in insolvency cases. en-us Thu, 30 Jul 2020 00:00:00 +0530 Sat, 08 May 2021 08:16:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294906 The Appellate Tribunal directed the Adjudicating Authority to determine the fee of the Resolution Professional and the cost of the Corporate Insolvency Resolution Process to be borne by the Financial Creditor. The Adjudicating Authority approved a consolidated fee of Rs. 5 Lakhs + GST for the Resolution Professional, considering the work duration and expenses incurred. The Tribunal dismissed the appeal, emphasizing that fee fixation is not solely at the discretion of the Committee of Creditors but should be based on the professional's work and expenses. This decision clarifies the process of determining fees for Resolution Professionals in insolvency cases. Case-Laws Insolvency and Bankruptcy Thu, 30 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294906