2022 (10) TMI 701

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.... Advocate Per: Subrata Kumar Dash, Member (Technical) ORDER IA No. 953/2020 The present application is filed by erstwhile Resolution Professional of corporate debtor i.e. Mr. Sameer Rastogi seeking direction against the Liquidator to pay the fees of erstwhile Resolution Professional (for the period of 21.12.2018 to 12.02.2019) amounting to Rs. 5,77,102/- as a part of Insolvency Resolution Process under Section 5(13) read with Section 23(1) of Insolvency and Bankruptcy Code, 2016 and further direction to Liquidator to pay the above said amount to erstwhile Resolution Professional before any other amount to be distributed as per Section 53 of the I & B Code, 2016 on priority basis. 2) The brief facts pertaining to the present a....

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....thority vide order dated 12.02.2019 had passed an order under Section 33 of the Code. The RP continued to manage the operation of corporate debtor upto the date of liquidation order i.e. 12.02.2019. 2.3 It is stated that RP had written to erstwhile CoC regarding the professional fee of RP on many occasions dated 21.02.2019, 06.03.2019, 18.07.2019 and also issued reminder to Liquidator against the unpaid CIRP cost through email on 12.12.2019 and 18.12.2019 and further on 23.12.2019. 3. The respondent-Liquidator has filed its reply vide Diary No. 01539/2 dated 29.11.2021, whereby, the brief facts are stated hereinbelow: 3.1 It is stated by the respondent-Liquidator that the present application is not maintainable on the ground that t....

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....aking up the issue of the claim of fees of the RP, a reference is made to the provisions of Section 23(1) of the Code, extracted hereinbelow: 23. (1) Subject to section 27, the resolution professional shall conduct the entire corporate insolvency resolution process and manage the operations of the corporate debtor during the corporate insolvency resolution process period. Provided that the resolution professional shall continue to manage the operations of the corporate debtor after the expiry of the corporate insolvency resolution process period, until an order approving the resolution plan under sub-section (1) of section 31 or appointing a liquidator under section 34 is passed by the Adjudicating Authority. In the pre....