# CMA Harshad Deshpande vs. Shri Rakesh Kumar Relan & Anr.

> NCLAT judgment dated 2026-05-19. Citation: TCN-2026-NCLAT-00186. CMA Harshad Deshpande, the Interim Resolution Professional (IRP) of M/s Shri Tradco Deesan…

- **Court:** NCLAT
- **Order date:** 19 May 2026
- **Citation:** TCN-2026-NCLAT-00186
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/cma-harshad-deshpande-vs-shri-rakesh-kumar-relan-anr-p5tyi

## Summary

### Background

CMA Harshad Deshpande, the Interim Resolution Professional (IRP) of M/s Shri Tradco Deesan Private Limited, challenged an order from the National Company Law Tribunal (NCLT), Mumbai Bench, dated 07.10.2024. The Corporate Insolvency Resolution Process (CIRP) commenced on 15.02.2023. An NCLAT interim order on 28.02.2023 stayed the constitution of the Committee of Creditors (CoC) but permitted the IRP to continue with collation and verification of claims. After the stay was vacated on 01.09.2023, the CoC replaced Deshpande with Shri Rakesh Kumar Relan as the Resolution Professional (RP). The CoC subsequently partially ratified Deshpande's professional fees, denying payment for the six-month period during which the CoC constitution was stayed (01.03.2023-31.08.2023) and

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## Facts

The Corporate Insolvency Resolution Process (CIRP) against M/s Shri Tradco Deesan Private Limited commenced on 15.02.2023, and CMA Harshad Deshpande was appointed as the Interim Resolution Professional (IRP).

The admission order was challenged, and the NCLAT, through an interim order on 28.02.2023, stayed the constitution of the Committee of Creditors (CoC) and further CIRP steps, except for the collation and verification of claims.

The NCLAT interim stay was vacated on 01.09.2023, and the Appellant proceeded to constitute the CoC.

In the first CoC meeting on 18.09.2023, it was resolved to replace CMA Harshad Deshpande with Shri Rakesh Kumar Relan as the new Resolution Professional (RP).

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was justified in directing payment of fees to the Appellant-IRP …

**Ratio:** The remuneration of an Interim Resolution Professional (IRP) during a period when CIRP

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**Reasoning:** The NCLAT order dated 28.02.2023 specifically restrained the IRP from constituting the

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**Interpretation:** Regulation 34B and Schedule II of the CIRP Regulations, which prescribe minimum

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**Application:** The Adjudicating Authority's decision to grant Rs. 50,000/- per month for the

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## Parties

- **Judges:** Ashok Bh…; Indevar P…
- **Appellants:** CMA Harshad…
- **Respondents:** M/s Shri Tradco…; RAKESH KUMA…; +1 more
- **Other parties:** Committee of…; State Bank of…; +10 more
- **Advocates:** Sunny V.…; G. Aniruth…; +1 more

## Timeline

- **2023-02-15 — CIRP Commencement & IRP…**: Corporate Insolvency Resolution Process (CIRP) against M/s Shri Tradco Deesan Private…
- **2023-02-28 — NCLAT Interim S…**: The NCLAT issued an interim order staying the constitution of the Committee of Creditors…

## 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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