Committee Of Creditors vs Sonu Jain Rp For Marina Projects Pvt Ltd & ...

Committee of Creditors ...Appellant

Versus

Mrs. Sonu Jain, Resolution Professional for Marina Projects Pvt. Ltd. & Ors. ...Respondents

Present: For Appellant : Mr. S.K. Bhattacharya, Mr. Debarpita Basu Mukherjee and Mr. Mangaljit Mukherjee, Advocates

For Respondent : Mr. Vinod Kumar Chaurasia, Advocate ORDER

23.10.2019 This is an unfortunate Appeal filed by the 'Committee of

Creditors' without appreciating the provisions of the 'Insolvency and Bankruptcy

Code, 2016'. With regard to the Fee of the 'Resolution Professional', the

Adjudicating Authority (National Company Law Tribunal), Kolkata Bench,

Kolkata directed the 'Committee of Creditors' to pay the Fee to the 'Resolution

Professional' @ Rupees One Lakh per month.

2. Learned counsel for Appellant submits that in the meeting of the

'Committee of Creditors' which held on 18th May, 2019 at 'Item No. 1' with regard

to the determination of fee of 'Interim Resolution Professional, the following

decision was taken:

"ANY OTHER MATTER WITH THE PERMISSION OF CHAIRPERSON

ITEM NO. 1 : DETERMINATION OF FEES OF IRP

The IRP in the meeting had laid down an issue

stating the fact that her fees should be taken into

consideration. She proposed her fees to be -2-

Rs. 1,00,000 per month. The Corporate Debtor

with the consent of Operation Creditor had decided

to bear the IRP fees."

3. In view of Section 14 of the 'I&B Code' there being a provision of 'Recovery'

and as no amount can be taken from the 'Corporate Debtor', we are of the view

that even with the consent of the 'Operational Creditor', the 'Corporate Debtor'

cannot bear the Fee of the 'Interim Resolution Professional'. The Adjudicating

Authority had rightly directed the 'Committee of Creditors' to pay the Fees, which

according to us, can be adjusted from the 'Insolvency Resolution Process' which

includes the Fee of the 'Interim Resolution Professional'.

We find no merit in the Appeal, which is accordingly dismissed. No costs.

[Justice S.J. Mukhopadhaya] Chairperson

[Justice Venugopal M.] Member (Judicial)

[Justice Jarat Kumar Jain] Member (Judicial) /ns/sk

Company Appeal (AT) (Insolvency) No. 1115 of 2019