https://www.taxtmi.com/caselaws?id=750737 The NCLAT allowed the appeal by remanding the matter back to the tribunal. The appellant liquidator claimed entitlement to percentage fees based on total sales of Rs. 78,47,31,778/- realized during his tenure across different time periods. The tribunal had erroneously rejected the application without considering that under Regulation 4 of IBBI (Liquidation Process) Regulation, 2016 and IBBI circular dated 28.09.2023, liquidator fees should be calculated on "amount realized" from asset sales. The NCLAT found the tribunal failed to properly consider the liquidator's sales achievements and fee entitlement structure, setting aside the dismissal order and directing fresh consideration of the application. en-us Mon, 11 Mar 2024 00:00:00 +0530 Thu, 28 Mar 2024 19:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750737 The NCLAT allowed the appeal by remanding the matter back to the tribunal. The appellant liquidator claimed entitlement to percentage fees based on total sales of Rs. 78,47,31,778/- realized during his tenure across different time periods. The tribunal had erroneously rejected the application without considering that under Regulation 4 of IBBI (Liquidation Process) Regulation, 2016 and IBBI circular dated 28.09.2023, liquidator fees should be calculated on "amount realized" from asset sales. The NCLAT found the tribunal failed to properly consider the liquidator's sales achievements and fee entitlement structure, setting aside the dismissal order and directing fresh consideration of the application. Case-Laws Insolvency and Bankruptcy Mon, 11 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750737