# In the matter of Falcon Tyres Ltd. CP (IB) No. 01-BB-2017

> NCLT judgment dated 2018-10-04. Citation: TCN-2018-NCLT-00672. The case involves a claim by the Resolution Professional (R.P), Mr. Anand Ramachandra Bhat, for…

- **Court:** NCLT
- **Order date:** 4 Oct 2018
- **Citation:** TCN-2018-NCLT-00672
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/falcon-tyres-ltd-cp-ib-no-01-bb-2017-92d8f3cc

## Summary

### Background

The case involves a claim by the Resolution Professional (R.P), Mr. Anand Ramachandra Bhat, for expenses incurred during certain activities. The Hon'ble NCLAT had previously set aside the entire proceedings vide its order dated 08/03/2018. The R.P approached the Tribunal seeking direction to the Corporate Debtor to pay the claimed amount of Rs 1,38,72,101/-. The CoC's decision was sought regarding the fees claimed by the Interim Resolution Professional (IRP). Shri Savan Godiawala, R.P appointed in another case, filed a reply stating that the CoC was not fully convinced that the expenses claimed by Mr. Bhat were approved by the previous CoC during the previous CIRP, and that the Corporate Debtor lacks funds to satisfy the claim.

## Facts

The Resolution Professional (R.P), Mr. Anand Ramachandra Bhat, claimed Rs 1,38,72,101/- for expenses incurred during certain activities. The Hon'ble NCLAT had set aside the entire proceedings vide its order dated 08/03/2018. The R.P approached the Tribunal seeking direction to the Corporate Debtor to pay the claimed amount. Shri Savan Godiawala, R.P appointed in another case, filed a reply stating that the CoC was not fully convinced that the expenses claimed by Mr. Bhat were approved by the previous CoC during the previous CIRP. The Corporate Debtor lacks funds to satisfy the claim. The CoC has not authorized any payments to Mr. Bhat.

## Issues and analysis

### Issue 1: Whether the fees claimed by the …

**Ratio:** The fees claimed by the IRP must be in accordance with the applicable laws and

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**Reasoning:** The Tribunal needs to determine if the claimed fees are justified based on the work done

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**Interpretation:** The interpretation involves examining the relevant provisions of the Insolvency

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**Application:** The Tribunal will assess the IRP's claim against the legal standards to

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## Parties

- **Judges:** Rajeswara Rao…; Ashok Kumar…
- **Appellants:** K.R Krishna…
- **Respondents:** Falcon Tyre…

## Timeline

- **2017-09-25 — Tribunal…**: Tribunal issued an…
- **2018-03-08 — NCLAT Or…**: Hon'ble NCLAT set aside…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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