2019 (12) TMI 1516 - AT - Insolvency and Bankruptcy

Fixation of professional fee and cost of Resolution Professional - HELD THAT - The Adjudicating Authority taking into consideration the fact that main claim of the Operational Creditor against the Corporate Debtor was Rs. 20, 50, 136/- and parties settled the matter fixed professional fee and cost of Resolution Professional at Rs. 2, 50, 000/- and allowed a sum of Rs. one lakh to be paid in favour of the Appellant. The Appellant is unhappy with such amount but we are not inclined to interfere with such amount - Appeal dismissed.

Summary

The Appellate Tribunal upheld the decision regarding the professional fee and cost of the Resolution Professional, Mr. Ashok Kumar Tibrewala, at Rs. 2,50,000. The appeal was dismissed, and no costs were awarded.