# In the matter of Narinder Bhushan Aggarwal Vs. Little Bee International Pvt. Ltd. & Anr. CA(AT)(Ins)No. 980 of 2020

> NCLAT judgment dated 2020-11-18. Citation: TCN-2020-NCLAT-00044. The appeal concerns an order dated 26th February 2019, regarding the remuneration of the…

- **Court:** NCLAT
- **Order date:** 18 Nov 2020
- **Citation:** TCN-2020-NCLAT-00044
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/narinder-bhushan-aggarwal-vs-little-bee-international-pvt-ltd-anr-ca-0bc36465

## Summary

### Background

The appeal concerns an order dated 26th February 2019, regarding the remuneration of the liquidator, Narinder Bhushan Aggarwal, for M/s. Little Bee International Private Limited. The liquidator was aggrieved by the order, which directed payment as per Regulation 4(2) and (3) of the Liquidation Process Regulations, 2016, and not under Regulation 39D. The Corporate Debtor has been sent into liquidation, and the Committee of Creditors (CoC) approved the contribution of estimated liquidation expenses by the Financial Creditors in an escrow account.

## Facts

Narinder Bhushan Aggarwal, the liquidator for M/s. Little Bee International Private Limited, appealed an order dated February 26, 2019, concerning his remuneration. The order directed payment as per Regulation 4(2) and (3) of the Liquidation Process Regulations, 2016, instead of Regulation 39D. The Corporate Debtor was undergoing liquidation, and the Committee of Creditors (CoC) had approved the contribution of estimated liquidation expenses by the Financial Creditors in an escrow account during its 8th meeting on November 25, 2019, with a voting share of 69.48%. The Adjudicating Authority believed Regulation 39D governed fee fixation by the CoC, but the court found the CoC's decision regarding liquidation costs and remuneration fell within Regulation 39D's ambit. The

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## Issues and analysis

### Issue 1: Whether the remuneration of the liquidator should be governed by Regulation 39D of the Liquidation …

**Ratio:** The legal principle applied is that if the Committee of Creditors (CoC) has made a

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**Reasoning:** The court reasoned that the Committee of Creditors had taken a decision regarding the

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**Interpretation:** This legal issue involves interpreting the scope and applicability of

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**Application:** In this specific case, the court applied the ratio by determining that the

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## Parties

- **Judges:** Bansi Lal…; Anant Bijay…; +1 more
- **Appellants:** Narinder Bhushan…
- **Respondents:** Little Bee…; M/s. Little Bee…

## Timeline

- **2019-02-26 — Impugned Ord…**: Date of the impugned order regarding the remuneration of the liquidator, which the…
- **2019-11-25 — Committee of Creditors…**: The 8th meeting of the Committee of Creditors, where they approved the contribution of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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