# In the matter of H S Power Projects Pvt. .Ltd. ((IB)-300(ND)-2019

> NCLT judgment dated 2019-07-22. Citation: TCN-2019-NCLT-02399. The case involves a dispute over the fees payable to the Interim Resolution Professional (IRP)…

- **Court:** NCLT
- **Order date:** 22 Jul 2019
- **Citation:** TCN-2019-NCLT-02399
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/h-s-power-projects-pvt-ltd-ib-300nd-2019-4d346781

## Summary

### Background

The case involves a dispute over the fees payable to the Interim Resolution Professional (IRP) in a Corporate Insolvency Resolution (CIR) process. The CIR process was terminated on March 25, 2019, after the IRP effected publication following the admission of the petition on March 11, 2019, but no claims were received. Publication was effected on March 14, 2019, and the IRP received intimation about the settlement on March 18, 2019. The books of accounts maintained by the Corporate Debtor were sent for valuation, but the name of the valuers was not intimated to the Bench, and no report or receipt of fees advanced was tendered.

## Facts

The CIR process for Eonn Plast Pvt. Ltd. was terminated on March 25, 2019, after the petition was admitted on March 11, 2019. The IRP effected publication on March 14, 2019, but no claims were received. The IRP received intimation about the settlement on March 18, 2019. The Corporate Debtor's books were sent for valuation, but the valuer's name was not disclosed, and no valuation report or fee receipts were submitted. The IRP claimed Rs. 2.5 lakhs in fees, but only Rs. 49,000 was reimbursed. The IRP is dissatisfied with the fees. The court notes the limited steps taken by the IRP beyond publication. The relevance of these facts is to determine a fair compensation for the IRP's services.

## Issues and analysis

### Issue 1: Whether the quantum of fees payable to the Interim Resolution Professional (IRP) is reasonable …

**Ratio:** The principle of fair compensation for services rendered, considering the extent and

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**Reasoning:** The court reasoned that the IRP's dissatisfaction with the fees was valid, considering

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**Interpretation:** The interpretation is that the IRP is entitled to reasonable compensation, but

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**Application:** The ratio and reasoning are applied to the specific facts by acknowledging the

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## Parties

- **Judges:** Ina Mal…
- **Appellants:** Ajay K.…
- **Respondents:** Eonn Plast Pvt.…; Shivam…

## Timeline

- **2019-03-11 — Admission of…**: Petition admitted vide…
- **2019-03-14 — Publication E…**: Publication was…

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