# In the matter of Bhasin Infotech and Infrastructure Pvt. Ltd. Vs. Gurpreet Singh CA (AT) (Insolvency) No. 491-2018

> NCLAT judgment dated 2018-12-13. Citation: TCN-2018-NCLAT-00017. This is a Company Appeal (AT) (Insolvency) No. 491 of 2018 arising out of an order dated 10th…

- **Court:** NCLAT
- **Order date:** 13 Dec 2018
- **Citation:** TCN-2018-NCLAT-00017
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/bhasin-infotech-and-infrastructure-pvt-ltd-vs-gurpreet-singh-ca-daedaa58

## Summary

### Background

This is a Company Appeal (AT) (Insolvency) No. 491 of 2018 arising out of an order dated 10th August, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi in Company Petition No. (IB)-75(PB)/2018. The appeal was preferred by ‘M/s Bhasin Infotech and Infrastructure Private Limited' (Corporate Debtor) against the order dated 10th August, 2018, where the Adjudicating Authority directed the Appellant to pay a lump sum fee of Rs.5 lakh to the Interim Resolution Professional within a week. The Corporate Debtor challenged the order, arguing that the fee was excessive and arbitrary.

## Facts

The Corporate Debtor, ‘M/s Bhasin Infotech and Infrastructure Private Limited', filed an appeal against an order dated 10th August, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi. The Adjudicating Authority had directed the Corporate Debtor to pay a lump sum fee of Rs.5 lakh to the Interim Resolution Professional (IRP) for his services. The Corporate Debtor challenged this order, claiming the fee was excessive and arbitrary, considering the IRP worked for 27 days. The IRP had initially claimed Rs.6.50 lakhs from the Financial Creditor for 30 days of work. The Financial Creditor had proposed Mr. Gurmeet Singh as the IRP. The application under Section 7 of the I&B Code was admitted on 13th June, 2018, but later

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## Issues and analysis

### Issue 1: Whether the lump sum fee of Rs.5 lakh fixed by the Adjudicating Authority for the Interim …

**Ratio:** The Adjudicating Authority is required to fix the expenses of the Interim Resolution

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**Reasoning:** The court found that the IRP had performed duty only for 27 days and had not incurred any

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**Interpretation:** The court interpreted the provisions of the I&B Code and its regulations to

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**Application:** The court applied the ratio to the facts of the case, finding that the Rs.5

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Respondents:** Bhasin Infotech…; Gurpreet…

## Timeline

- **2018-08-10 — Order by Adjudicating…**: Adjudicating Authority directed the Corporate Debtor to pay Rs.5 lakh to the Interim…
- **2018-06-13 — Application under…**: The application under Section 7 of the I&B Code was admitted by the Adjudicating…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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