Creditors' Committee Must Reimburse Insolvency Resolution Professional's Expenses; Applicant Initially Covers Costs u/ss 7 or 9.

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....Committee of Creditors liability to bear the expenses incurred by the Insolvency Resolution Professional - the applicant, who has filed the application under Section 7 or 9 of the I & B Code, is required to bear the expenses which is to be reimbursed by the committee of creditors to the extent the Committee of Creditors ratifies the same. - AT....