The Appellant, Datta Balbhim Shinde, filed an application (I.A No. 618 of 2022) to record the Terms of Settlement with the Respondent, Mohandas Chattaram & Anr., who is the Financial Creditor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor by an order dated 18.02.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. The parties have now settled the matter before the constitution of the Committee of Creditors (CoC). The Interim Resolution Professional (IRP) is also present and does not dispute that the CoC has not yet been constituted. The Appellant is required to pay the professional fees of Rs. 1.5 lakh plus expenses of the IRP.

The Appellant, Datta Balbhim Shinde, filed an application (I.A No. 618 of 2022) to record the Terms of Settlement with the Respondent, Mohandas Chattaram & Anr., who is the Financial Creditor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor by an order dated 18.02.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. The parties have now settled the matter before the constitution of the Committee of Creditors (CoC). The Interim Resolution Professional (IRP) is also present and does not dispute that the CoC has not yet been constituted. The Appellant is required to pay the professional fees of Rs. 1.5 lakh plus expenses of the IRP.