TMI Blog2020 (1) TMI 1610X X X X Extracts X X X X X X X X Extracts X X X X ..... uty of the 'Interim Resolution Professional' and constituted the 'Committee of Creditors' and thereafter, continued to function even beyond 30 days with designation of the 'Interim Resolution Professional' and as he moved an application for liquidation (though designated continue as Interim Resolution Professional ), we agree with the observations made by the Adjudicating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Appellant: Divyanshu Sahay and Shradha Narayan, Advocates For the Respondent: Rohan Saluja, Advocate ORDER 1. The 'Committee of Creditors' recommended for liquidation of 'M/s. Smartec Build Systems Private Limited'- ('Corporate Debtor'), pursuant to which order of liquidation has been passed by the Adjudicating Authority (National Company Law Tribunal) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tee of Creditors' to pay the fees and cost incurred by the 'Interim Resolution Professional'. 5. According to the Appellant ('Committee of Creditors'), the fees and costs of the 'Interim Resolution Professional' is to be borne by the Applicant who filed application under Section 9. However, such submission cannot be accepted as 'Operational Creditor' who move ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... till the date of liquidation having not allowed to continue as Liquidator. 7. If Mr. B. Santosh Babu- 'Interim Resolution Professional' who continued till the order of impugned order of liquidation was passed, would have been allowed to continue as Liquidator and only in such case, the payment could have been made to him as Liquidator in terms of Section 34(8) of the 'I B Code'. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
