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2022 (10) TMI 701 - Tri - Insolvency and BankruptcySeeking direction against the Liquidator to pay the fees of erstwhile Resolution Professional (for the period of 21.12.2018 to 12.02.2019) - direction to Liquidator to pay the amount to erstwhile Resolution Professional before any other amount to be distributed as per Section 53 of the I & B Code, 2016 on priority basis. Whether the present application for the payment to the Resolution Professional for the period beyond what was expressly approved by the COC is maintainable? - Who will decide the fees, if any, due to applicant- erstwhile Resolution Professional as the COC has not been made a party to the application? HELD THAT:- In the present case, in the absence of any order from this Adjudicating Authority appointing a liquidator, the applicant’s continuation as a RP is not in contravention of any provisions of IBC - respondent’s contention that no fees is payable for the extended period as the same was not ratified by the CoC is untenable. In view of the fact that in the present case, company is already under liquidation, the liquidator is directed to disburse the professional fee of RP at the rate approved by CoC for the period from 21.12.2018 to 12.02.2019 i.e, upto the period ending with order of liquidation. The said amount be disbursed to erstwhile Resolution Professional before any other amount to be distributed as per Section 53 of the I & B Code, 2016 as the said fees comes under the heading under section 5(13) i.e., insolvency resolution process cost. The present application is allowed and disposed of accordingly.
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