The Corporate Debtor was initially put into liquidation, and subsequently, by an order dated December 11, 2023, it was directed to be dissolved under Section 54 of the I & B Code, 2016. This dissolution order was passed on merit and remained unchallenged, attaining finality. The Liquidator, the appellant in this case, did not challenge the dissolution order itself.

The Liquidator claimed an entitlement to certain Liquidator Fees amounting to Rs. 29,20,817/- from Canara Bank, the sole Secured Creditor, for the period from October 5, 2018, to June 30, 2023. To recover these fees, the Liquidator filed an application, IA (IBC)/138/KOB/2024, before the Adjudicating Authority, seeking directions for the remittance of his fees as per the Regulations of 2016.

The Corporate Debtor was initially put into liquidation, and subsequently, by an order dated December 11, 2023, it was directed to be dissolved under Section 54 of the I & B Code, 2016. This dissolution order was passed on merit and remained unchallenged, attaining finality. The Liquidator, the appellant in this case, did not challenge the dissolution order itself.

The Liquidator claimed an entitlement to certain Liquidator Fees amounting to Rs. 29,20,817/- from Canara Bank, the sole Secured Creditor, for the period from October 5, 2018, to June 30, 2023. To recover these fees, the Liquidator filed an application, IA (IBC)/138/KOB/2024, before the Adjudicating Authority, seeking directions for the remittance of his fees as per the Regulations of 2016.