# CMA Harshad Deshpande vs. Shri Rakesh Kumar Relan & Committee of Creditors of M/s Shri Tradco Deesan Private Limited

> NCLAT judgment dated 2026-05-19. Citation: TCN-2026-NCLAT-00188. 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-00188
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/cma-harshad-deshpande-vs-shri-rakesh-kumar-relan-committee-of-creditors-of-ms-sh-retsh

## Summary

### Background

CMA Harshad Deshpande, the Interim Resolution Professional (IRP) of M/s Shri Tradco Deesan Private Limited, appealed an NCLT order regarding his professional fees. The core dispute involved the Committee of Creditors' (CoC) refusal to pay full fees for a six-month period (March-August 2023) during which the NCLAT had stayed the constitution of the CoC, allowing only claim collation and verification. The CoC also reduced his agreed monthly fee from INR 2,50,000 to INR 2,00,000 from September 2023 onwards. The NCLT awarded INR 50,000 per month for the stay period and reimbursement of expenses, but denied the full claimed amount.

## 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 before the NCLAT in Company Appeal (AT) (Insolvency) No. 244 of 2023.

The NCLAT, by an interim order dated 28.02.2023, stayed the constitution of the Committee of Creditors (CoC) but specifically permitted the IRP to continue with collation and verification of claims.

The interim stay granted by the NCLAT was vacated vide order dated 01.09.2023.

…

## 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 IRP during a period of restricted CIRP functions, where a stay

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**Reasoning:** The NCLAT's interim order dated 28.02.2023 specifically restrained the IRP from

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

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**Application:** The Appellant performed only one duty listed in Section 18(b) (receipt and

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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…; +9 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…**: NCLAT passed 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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