# In the matter of Minita D Raja vs. The Cosmos Co-Op Bank Limited

> NCLAT judgment dated 2026-03-12. Citation: TCN-2026-NCLAT-00043. The appeal was filed by Minita D Raja, the Erstwhile Resolution Professional of Crystal Clear…

- **Court:** NCLAT
- **Order date:** 12 Mar 2026
- **Citation:** TCN-2026-NCLAT-00043
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/minita-d-raja-vs-the-cosmos-co-op-bank-limited-6b812de7

## Summary

### Background

The appeal was filed by Minita D Raja, the Erstwhile Resolution Professional of Crystal Clear Veg Oil Refinery Pvt. Ltd., against the Impugned Order dated 25.07.2024 passed by the National Company Law Tribunal, Mumbai Bench, Court-II, regarding the reduction of her professional fees.

## Facts

Minita D Raja was the Erstwhile Resolution Professional of Crystal Clear Veg Oil Refinery Pvt. Ltd.

The Cosmos Co-Op Bank Limited is the Financial Creditor of the Corporate Debtor and the Respondent in the appeal.

The Adjudicating Authority reduced the Appellant's fees from Rs. 50,000/- to Rs. 10,000/- per month.

The CoC had initially fixed the Appellant's fees at Rs. 2,50,000/- per month, later renegotiated to Rs. 2,00,000/- per month.

The CoC mainly constituted of the Respondent who held 93.2% voting share.

The Respondent had filed an application under Section 7 of the Code, leading to the commencement of CIRP against the Corporate Debtor.

The CIRP could not succeed as the only resolution plan was not found satisfactory by the CoC.

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was justified in reducing the fees of the Resolution …

**Ratio:** The CoC has the exclusive power to fix the fees of the Resolution Professional, and the

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**Reasoning:** The Code and CIRP Regulations empower the CoC to fix the fees of the Resolution

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**Interpretation:** The Adjudicating Authority's reduction of fees without the recommendation of

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**Application:** The Impugned Order reducing the fees is set aside, and the matter is remanded

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## Parties

- **Judges:** Naresh Sa…; Mohammad Faiz…
- **Appellants:** Minita D.…
- **Respondents:** Crystal Clear Veg…; The Cosmos Co-Op…
- **Advocates:** Sandeep…; Aakansha…; +4 more

## Timeline

- **2017-N/A-N/A — Company Petition (IB)…**: Corporate insolvency resolution process was…
- **2018-04-16 — Order Da…**: Order for commencement of CIRP…

## 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)

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