https://www.taxtmi.com/caselaws?id=767126 The NCLT Kolkata held that a liquidator is not entitled to fees under Regulation 4(2)(b) of IBBI (Liquidation Process) Regulations, 2016 when the liquidator has not actually realized or distributed any amount. Since the respondent banks conducted the entire sale of the unit without liquidator involvement and handled realization and distribution independently, the liquidator's claimed fees were not payable. The tribunal distinguished this case from precedent where liquidator fees were mandatorily payable, concluding that banks had complied with Regulation 21A obligations except for the improperly claimed liquidator fees. Application disposed. en-us Wed, 05 Feb 2025 00:00:00 +0530 Tue, 11 Mar 2025 08:33:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767126 The NCLT Kolkata held that a liquidator is not entitled to fees under Regulation 4(2)(b) of IBBI (Liquidation Process) Regulations, 2016 when the liquidator has not actually realized or distributed any amount. Since the respondent banks conducted the entire sale of the unit without liquidator involvement and handled realization and distribution independently, the liquidator's claimed fees were not payable. The tribunal distinguished this case from precedent where liquidator fees were mandatorily payable, concluding that banks had complied with Regulation 21A obligations except for the improperly claimed liquidator fees. Application disposed. Case-Laws IBC Wed, 05 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767126