2019 (9) TMI 362

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pondent (s) : Mr. Rajiv Shankar Dvivedi, AOR And Mr. S.K. Sarkar, Adv. ORDER C.A. No. 835/2018: We have been shown Regulation 33 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, which reads as follows:- "33. Costs of the interim resolution professional.- (1) The applicant shall fix the expenses to be incurred....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... to bear expenses incurred by the RP, which shall then be reimbursed by the Committee of Creditors to the extent such expenses are ratified. We are informed that, in this case, no Committee of Creditors was ever appointed as the interim resolution process did not reach that stage. In these circumstances, it is clear that whatever the Adjudicating Authority fixes as expenses will be borne by the cr....