Yasir Kharwa vs S A Consultants & Forwarders Pvt Ltd & Ors

IN THE MATTER OF: Yasir Kharwa ...Appellant Versus S.A. Consultants & Forwarders Pvt. Ltd. & Anr. ...Respondents Present: For Appellant :

For Respondents : Mr. Pratyush Bhattacharjee, Mr. Pervinder and Mr. Avinash Bhati, Advocates for R-1.

ORDER

(Hybrid Mode)

29.05.2026: The IRP has filed his report and submitted that, except for

the show cause notice from the EPFO, he has not received any claim form

any parties and added that, inasmuch as the parties have settled the

outstanding disputes vis-à-vis debt and default, only the remuneration of

the IRP remains to be determined and settled.

2. Given the scenario, it is now evident that the matter should take Sec.

12A route. Before any decision on the proposed settlement withdrawal of

CIRP, the Adjudicating Authority must ensure to fix the remuneration of the

IRP and also ensure that the same is paid.

3. Accordingly, we dispose of this appeal and remand the matter back to

the Adjudicating Authority to enable it to proceed with the settlement.

4. The amount that stands to the credit of this case before this Tribunal

is directed to be transferred to the account of the case before the NCLT

concerned.

5. The interim protection given by us on 10.05.2024 will continue till

further orders of the Adjudicating Authority, and the Adjudicating Authority

is at liberty to mould the interim Order passed by us as to enable the

settlement to take place.

Justice N. Seshasayee Member (Judicial)

Arun Baroka Member (Technical) rashmi/beena

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