Manoj Kumar Singh vs M/S Ebpl Ventures Pvt.Ltd

Sh. Manoj Kumar Singh ....Appellant Vs. M/s. EBPL Ventures Pvt. Ltd. ...Respondent For Appellant: Mr. Arun Kathpalia, Sr. Advocate with Mr. Abhijeet Sinha, Ms. Pooja M. Saigal, Mr. Anshul Bajaj, Mr. Simrat Singh Pasay and Mr. Chaitanya Pandey, Advocates. For Respondent: Ms. Prachi Johri, Mr. Anuj Tiwari and Mr. Lakshya Sachdeva, Advocates for R-1. Mr. Navjit Singh, Advocate for R-2.

ORDER

(Through Virtual Mode)

29.03.2022: I.A No. 873 of 2022 has been filed by the Appellant in this

Appeal bringing on record the settlement with the Operational Creditor dated

27.03.2022. As per the settlement, the dispute between the parties have

been settled and payment has been made by Demand Draft dated

25.03.2022 of the settlement amount less TDS.

2. This Appeal was filed against the order dated 15.03.2022 passed by

the Adjudicating Authority (National Company Law Tribunal) by which the

Application filed under Section 9 by the Operational Creditor has been

admitted. It has been noted in our earlier order that the order of 15.03.2022

was uploaded only after court hours on 24.03.2022 and on 25.03.2022, IRP

has issued public notice. Neither CoC has been constituted nor any further 2

steps have been take. The Settlement having been filed and entered between

the parties which have brought on the record, we take the settlement on the

record and set aside the order dated 15.03.2022. We further observe that the

expenses for publication which was incurred by the IRP be paid by the

Appellant on submission of the receipt of the payment of the publication

amount. No other amount is required to be paid to the IRP.

3. The IRP further submitted that the Appellant should be directed to be

make payment for Miscellaneous expenses. In the present case, the

impugned order dated 15.03.2022 was uploaded on 24.03.2022 evening after

Court hours and on the next date, we have stayed the order dated

15.03.2022 directing no further steps to be taken in pursuance of the

impugned order. The IRP made publication on 25.03.2022 i.e. within 24

hours. Within a period of less than 24 hrs the order was stayed by this

Tribunal and we are of the view that IRP is not entitled for any kind of fee or

other expenses except the expenses for publication in the newspaper.

4. The Appeal is allowed with the aforesaid direction.

[Justice Ashok Bhushan] Chairperson

[Dr. Alok Srivastava] Member (Technical)

[Shreesha Merla] Member (Technical)

Anjali/nn

Comp. App. (AT) (Ins.) No. 294 of 2022