# In the matter of Shyam Sundar Maheshwari vs. Adhunik Niryat Ispat Ltd. & Anr.

> NCLAT judgment dated 2024-01-17. Citation: TCN-2024-NCLAT-00680. The appeal was filed against the order dated 27.09.2023 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 17 Jan 2024
- **Citation:** TCN-2024-NCLAT-00680
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/shyam-sundar-maheshwari-vs-adhunik-niryat-ispat-ltd-anr-87b56d3c

## Summary

### Background

The appeal was filed against the order dated 27.09.2023 passed by the Adjudicating Authority regarding I.A. No.274 of 2023 and I.A. No. 325 of 2023. CIRP commenced against the Corporate Debtor on 05.12.2022. The Interim Resolution Professional (IRP) issued a public announcement on 14.12.2022. An interim order was passed directing the IRP not to constitute the CoC but to proceed with the collation of claims. The Adjudicating Authority directed payment of Rs.1,50,000/- as CIRP costs to the IRP. A settlement was entered between the Operational Creditor and the Corporate Debtor, and an application was filed to accept the settlement. The IRP also filed IA No.325 of 2023 claiming fees and expenses.

## Facts

CIRP commenced against the Corporate Debtor on 05.12.2022. The IRP issued a public announcement on 14.12.2022. An interim order was passed directing the IRP not to constitute the CoC but to proceed with the collation of claims. The Adjudicating Authority directed payment of Rs.1,50,000/- as CIRP costs to the IRP. A settlement was entered between the Operational Creditor and the Corporate Debtor. The IRP filed IA No.325 of 2023 claiming fees and expenses. The Adjudicating Authority considered the claim of fees and expenses and allowed expenses to the extent of Rs.75,000/-. The Adjudicating Authority made adverse observations in Para 19 with which the Appellant is aggrieved. The Operational Creditors are required to pay the difference amount of the CIRP cost, if any,

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's order …

**Ratio:** The Adjudicating Authority has the power to

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**Reasoning:** The court found no reason to interfere with the decision of the Adjudicating Authority

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**Interpretation:** The Adjudicating Authority's decision on expenses and fees is generally upheld

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**Application:** The court applied the principle that it should not interfere with the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Shyam Sundar…
- **Respondents:** Adhunik Niryat…
- **Advocates:** Nagendra…; Prabhansh…; +3 more

## Timeline

- **2023-09-27 — Order by Adjudicating…**: The Adjudicating Authority passed an order regarding I.A. No.274 of 2023 and I.A. No. 325…
- **2022-12-05 — CIRP Commen…**: CIRP commenced against…

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