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2019 (1) TMI 1184 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHIExcessive payment to Interim Resolution Professional - payment of ₹ 5 lakh to Interim Resolution Professional for his working for 30 days is excessive and arbitrary? - Held that:- The consolidated amount of ₹ 6 lakh has been charged jointly for the firm -‘Ensemble Resolution Professionals Pvt. Ltd.’ and the ‘Interim Resolution Professional’ and not towards the fee of ‘Interim Resolution Professional’. Admittedly, the Applicant (Financial Creditor) had not fixed the expenses to be incurred by the Interim Resolution Professional. As per Sub-regulation (2) of Regulation 33, the Adjudicating Authority was required to fix the expenses which includes the fee to be paid to the Interim Resolution Professional and other expenses. The application under Section 7 was admitted on 13th June, 2018. The copy of which was received by the Interim Resolution Professional on 20th June, 2018. Finally the proceeding was terminated by judgment of this Appellate Tribunal dated 17th July, 2018, thereby we find that the Interim Resolution Professional has worked for 27 days. We find that the ‘Interim Resolution Professional’ has performed duty only for 27 days and not incurred any expenses, except for travelling allowance which he is entitled to, we hold that ₹ 5 Lakh (Rupees Five Lakhs Only) allowed by the Adjudicating Authority is excessive. Adjudicating Authority has failed to notice that claim of ₹ 6 Lakh (Rupees Six Lakhs Only) was made by the firm namely ‘Ensemble Resolution Professionals Pvt. Ltd.’, payable to the Interim Resolution Professional. As the aforesaid firm is not eligible or entitled to receive any fees or any cut or commission from the fees of the ‘Interim Resolution Professional’, demand of Rupees Six Lakhs cannot be accepted. Taking into consideration the facts and circumstances of the case, we are of the view that a sum of ₹ 1.5 Lakhs (Rupees One Lakh Fifty Thousand) should be paid in favour of the ‘Interim Resolution Professional’ for his functioning for period of 27 days (which is approximately 30 days). In addition ₹ 25,000/-, is allowed towards travel expenditure, if any, incurred by the Interim Resolution Professional. Thus, Interim Resolution Professional is allowed a sum of ₹ 1.75 Lakh (Rupees One Lakh Seventy Five Thousand Only) to be paid by the Appellant (Corporate Debtor), which should be paid within two weeks. The impugned order dated 10th August, 2018 stands modified to the extent above.
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