https://www.taxtmi.com/caselaws?id=304926 The Adjudicating Authority ruled that the Committee of Creditors is liable to cover the fees and costs incurred by the Interim Resolution Professional during the extended period until the liquidation order, as the Operational Creditors may not receive any amount during liquidation. The failure to transition the Interim Resolution Professional to Liquidator prevented payment under Section 34(8) of the Insolvency and Bankruptcy Code. The appeal contesting the fees was dismissed with a cost of Rs. 1,00,000, emphasizing the Committee of Creditors' obligation to pay the Interim Resolution Professional's fees and costs. en-us Fri, 10 Jan 2020 00:00:00 +0530 Sun, 06 Nov 2022 17:46:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304926 The Adjudicating Authority ruled that the Committee of Creditors is liable to cover the fees and costs incurred by the Interim Resolution Professional during the extended period until the liquidation order, as the Operational Creditors may not receive any amount during liquidation. The failure to transition the Interim Resolution Professional to Liquidator prevented payment under Section 34(8) of the Insolvency and Bankruptcy Code. The appeal contesting the fees was dismissed with a cost of Rs. 1,00,000, emphasizing the Committee of Creditors' obligation to pay the Interim Resolution Professional's fees and costs. Case-Laws Insolvency and Bankruptcy Fri, 10 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304926