Om Logistics Limited vs Bikram Singh Gusain

IN THE MATTER OF: Om Logistics Ltd. ....Appellant

Vs.

Bikram Singh Gusain & Anr. ....Respondents

Present: For Appellant: Mr. Arun Aggarwal, Mr. Ankit Sansanwal, Advocates For Respondents: Mr. Bikram Singh Guasin, in-person for R-1. Mr. Vinod K Chaurasia, Mr. Shivam Pal, Advocates for R- 1. Mr. Hitesh Sachar, Ms. Anju Jain, Ms. Rabi Karmokar, Advocates for R-2

ORDER

(Hybrid Mode)

06.03.2024: Perusal of the order dated 28.02.2024, shows the Ld.

Counsel on behalf of the Appellant was to seek instructions as to if the

appellant is inclined to make payment of Rs. 2,00,000/- in full and final

settlement of all dues of Resolution Professional. However, the Ld. Counsel for

the Appellant submits the Appellant is not inclined to pay any further fee as its

claim was merely Rs. 1,02,455/- and they have already paid an amount of Rs.

2,00,000/- i.e., more than its claim amount and only for this reason the

appellant had not pursued the CIRP which was later closed on 29.07.2021.

As it is evident from the order dated 28.02.2024, the fee claimed by the

RP was essentially for the period from 01.03.2020 till 29.07.2021. The fee of

the RP is regulated by Regulation No. 34 B of the Insolvency and Bankruptcy -2-

Board of India (Insolvency Resolution Process for Corporate Persons)

Regulations, 2016 and Schedule II of the same gives the period for minimum

fixed fee as under:

2. The minimum fixed fee shall be applicable for the period, from appointment as interim resolution professional or resolution professional, till the time of-

(a) Submission of application for approval of resolution plan under Section 30;

(b) Submission of application to liquidate the corporate debtor under Section 33;

(c) Submission of application for withdrawal under Section 12A; or

(d) Order for closure of corporate insolvency resolution process; whichever is earlier.

We have perused the file. On record we find the Board had recommended

in terms of the Board's internal guidelines dated 06.06.2021 for fixing the fees

of IP's, and recommended the fee of RP in this case may be fixed at Rs.

2,65,000/- (including GST of Rs. 40,500/-, calculated at Rs. 15,000 per month

for 15 months).

Admittedly the CIRP is not a mode for settling disputes qua recovery of

the due amount(s) as it may entail serious repercussion, hence, the argument

viz the amount claimed in the petition was only Rs. 1,02,455/- hence the

appellant would not pay, is without merit.

Company Appeal (AT) (Ins) No. 383 of 2023 -3-

Consequently, we find no merit in the appeal. The Appeal stands

dismissed with a direction to the appellant to pay the fees to RP as above,

within four weeks from today. The file be consigned.

[Justice Yogesh Khanna] Member (Judicial)

[Ajai Das Mehrotra] Member (Technical)

sr/kam Company Appeal (AT) (Ins) No. 383 of 2023