National Company Law Appellate Tribunal
Mr Avtar Singh Rahi vs Mr Kumud Shekhar Resolution Professional Of Hospitech Management Consultants Pvt Ltd & Anr on 29 July 2020
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI
Company Appeal (AT) (Insolvency) No. 631 of 2020
IN THE MATTER OF:
Mr. Avtar Singh Rahi
…Appellant
Versus
Mr. Kumud Shekhar, Resolution Professional Of Hospitech Management Consultants Pvt. Ltd. & Anr.
…Respondents
Present:
For Appellant:
Mr. Vikas Singh, Sr. Advocate with
Mr. Lakshay Dhamjja, Advocate
For Respondent: Mr. Rituraj Biswas, Advocate for R-1
Mr. Mani Bhushan Sinha, Advocate for (OC)
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O R D E R
(Virtual Mode)
29.07.2020 Heard the Learned Sr. Counsel for the Appellant as well as the Learned Counsel for the 1st Respondent. By consent, this Appellate Tribunal allows (1) Clause ‘A’ ‘Expenses (Ratified in 1st ‘CoC’)’ only to an extent of Rs. 24,785/-, (2) Clause ‘B’ ‘Expenses Outside Professionals (Ratified in 1st ‘CoC’)’ only to an extent of Rs. 2,28,500/-, (3) Clause ‘C’ ‘Expenses (Ratified in 2nd ‘CoC’)’ only to an extent of Rs. 47,353/- and in respect of (4) Clause ‘D’ ‘Expenses Insolvency Professional Entity Charges (Ratified)’ limited to an extent of Rs. 1,00,000/- and in respect of (5) Clause ‘E’ ‘Expenses Resolution Professional Fees (Ratified)’ is restricted to Rs. 2,50,000/- only.
For determining the aforesaid amounts, the Learned Sr. Counsel appearing for the Appellant as well as the Learned Counsel for the 1ST Respondent has agreed and upon acceptance this Appellate Tribunal, to prevent
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Company Appeal (AT) (Insolvency) No. 631 of 2020
an aberration of Justice and to secure the ends of Justice directs the Appellant to make the aforesaid payments by 14th August, 2020.
Before parting with the case, it is made lucidly clear that the 1st Respondent/Resolution Professional cannot lay a claim other than the amounts granted by this Appellate Tribunal as stated supra With the aforesaid observations and direction(s), the Appeal stands disposed of. I.A No. 1686/2020 (for stay) is closed.
[Justice Venugopal M.] Member (Judicial)
[Balvinder Singh] Member (Technical)
[Dr. Ashok Kumar Mishra] Member (Technical)
Basant B/nn /