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2022 (5) TMI 492 - Tri - Insolvency and BankruptcySeeking liquidation of the corporate debtor - section 33(2) of Insolvency and Bankruptcy Code, 2016 - HELD THAT:- In view of the satisfaction of the conditions provided under Section 33 of the Code, the Corporate Debtor i.e. M/s Maruti Kesri Nandan Agrofoods Private Limited is directed to be liquidated in the manner as laid down in Chapter III of the Code - Application allowed. Direction for payment of fee to the Resolving Professionals pertaining to lockdown period from 25.03.2020 to 31.07.2020, which is over and above 9 months of CIRP as per the revised bill - HELD THAT:- CIRP fees has already been approved by the CoC in its first meeting dated 06.03.2020 as per Agenda item No.10 and expenses incurred by the Resolution Professional during the period from 29.01.2021 to 05.03.2021 have also been ratified by the CoC in its seventh meeting as per Agenda item No. 10 and the pending matter in issue is with respect to professional fee of the Resolution Professional for the lockdown period from 25.03.2020 to 31.07.2020 and for the period from 11.03.2021(post liquidation resolution) till the disposal IA No.294/2021 - the fee of the resolution professional must be commensurate to and be reasonable compensation of the amount of work involved,including all other expenses such as counsel fees and out of pocket expenses considering the continuous involvement of the Resolution Professional and post liquidation resolution litigation carried on for the purpose of better management of assets of Corporate debtor. Application allowed.
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