# In the matter of Devarajan Raman vs. Vistra ITCL ( India ) Ltd. & Ors.

> NCLAT judgment dated 2025-09-04. Citation: TCN-2025-NCLAT-00488. The appeal was filed by Devarajan Raman, the erstwhile Resolution Professional (RP) of Satra…

- **Court:** NCLAT
- **Order date:** 4 Sept 2025
- **Citation:** TCN-2025-NCLAT-00488
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/devarajan-raman-vs-vistra-itcl-680cb898

## Summary

### Background

The appeal was filed by Devarajan Raman, the erstwhile Resolution Professional (RP) of Satra Properties (India) Ltd., under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order dated 02.02.2024 passed by the National Company Law Tribunal (NCLT), Mumbai Bench-IV.

## Facts

Devarajan Raman, the erstwhile Resolution Professional (RP) of Satra Properties (India) Ltd., filed an appeal against the order dated 02.02.2024 passed by the NCLT, Mumbai Bench-IV.

The Appellant claimed non-payment of outstanding fees amounting to Rs. 80,91,968.71.

The Appellant contended that the Respondents failed to honor an undertaking to pay his fees.

The Respondents argued that the CoC is responsible for the payment of the Appellant's fees, not individual members.

The Respondents submitted that the Appellant's claim is addressed in the approved Resolution Plan.

The Successful Resolution Applicant (SRA) has deposited Rs. 4,50,65,981/- with the Registrar, NCLAT, as directed by the Appellate Tribunal.

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in not directing Respondents No. 1 to 3 to immediately pay …

**Ratio:** The Adjudicating Authority correctly directed the incoming RP to explore the possibility

…

**Reasoning:** The fees payable to the Resolution Professional fall within the ambit of CIRP Costs, and

…

**Interpretation:** The fees of the Resolution Professional can only be paid from funds available

…

**Application:** The Adjudicating Authority's direction aligns with the provisions of the Code

…

## Parties

- **Judges:** Ashok Bh…; Barun M…; +6 more
- **Appellants:** Devarajan…; Praful…; +2 more
- **Respondents:** Satra Properties…; Vistra ITCL…; +4 more
- **Advocates:** Anjali S…; Devarajan…; +26 more

## Timeline

- **02.02.2024 — Impugned…**: Order passed by the National Company Law Tribunal, Mumbai Bench-IV, which is challenged…
- **03.08.2020 — Appointment…**: Appellant was appointed as the Interim Resolution Professional (IRP) by the Adjudicating…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/devarajan-raman-vs-vistra-itcl-680cb898