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2021 (10) TMI 594 - Tri - Insolvency and BankruptcySeeking release of amount towards his professional fees and other expenses incurred by him during the CIRP - HELD THAT:- It is an admitted fact that the CIRP initiated against the respondent is set aside by the Hon'ble NCLAT and while disposing of the appeal the Hon'ble NCLAT it was observed that "the Adjudicating Authority will fix the fee of IRP for the period he has functioned" and in pursuance of that direction, the present application is filed. A bare perusal of the Regulation 33 shows that it is the applicant, who shall fix the expenses to be incurred on or by the IRP and if the same has not been fixed, the Adjudicating Authority shall fix the expenses and the applicant shall bear the expenses, which shall be reimbursed by the Committee (COC) to the extent it ratifies - Here in the case in hand, admittedly, there was no CoC constituted, therefore, it is directed the IBBI to examine the fee and expenses claimed by the applicant, which in its report has stated the admissible fee and expenses, which the applicant is entitled to get. It is accepted that all the recommendation of the IBBI, except towards the expenses incurred for the public announcement. Although the IBBI has rejected the claim of second public announcement, since the public announcement has been made and that has not been denied, hence it is approved/granted that the cost/expenses incurred towards the second public announcement too. The Corporate Debtor is directed to pay total amount of ₹ 6,38,470/- only towards his fee and other expenses, within a month from today - application disposed off.
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