9911796707
TMI Blog2023 (10) TMI 356X X X X Extracts X X X X X X X X Extracts X X X X ..... ) This appeal is directed against the order dated 29.03.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench, Bench - II) whereby an application bearing IA (IB)/537/KB/2023 filed in CP (IB) No. 1986/KB/2019 by the IRP of McLeod Russel India Limited (Corporate Debtor) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (in short 'Code') r/w Regulation 33 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (in short 'Regulations') has been disposed of with the following observations:- "7. In such circumstances, in order to keep the corporate debtor as a going concern in the interim and to prevent adverse consequences for the corp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Creditor has already settled the matter and there are no issues between the parties. He only submits that in the event of default, liberty be given to revive the appeal. Learned Counsel for the IRP submits that certain dues have not yet been paid. Learned Counsel for the Appellant has submitted that considerable amount of expenses has been paid and if any amount is unpaid, that shall be taken care of. In view the aforesaid, settlement agreement is taken on record, we close CIRP initiated by order dated 10.02.2023. Order dated 10.02.2023 is set aside. Appeal is disposed of accordingly." 4. While the appeal was pending in this Court, the IRP of the Corporate Debtor filed the aforesaid application i.e. IA (IB)/537/KB/2023 wherei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g his obligations under the Code. ii. Payment of fees and costs and expenses incurred/to be incurred by the IRP/Applicant in relation to engaging professionals for providing assistance/support in discharging his obligations under the Code. iii. Payment of costs and expenses incurred or to be incurred from time.by the IRP/Applicant on account of engaging legal counsel for requisite representation, aid and advice in the CIR Process." 5. The said application was decided on 29.03.2023 and the said order has been impugned herein by one of the Financial Creditor (State Bank of India). 6. The case set up by the Appellant is that the Adjudicating Authority had no jurisdiction to pass an order in regard to payment of pre-CIRP dues during th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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