# In the matter of Kalyanpur Cements Ltd.

> NCLT judgment dated 2017-09-13. Citation: TCN-2017-NCLT-00418. The case involves M/s. Naresh Kumar & Company Pvt. Ltd. versus Kalyanpur Cements Ltd. under the…

- **Court:** NCLT
- **Order date:** 13 Sept 2017
- **Citation:** TCN-2017-NCLT-00418
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kalyanpur-cements-ltd-26a4e268

## Summary

### Background

The case involves M/s. Naresh Kumar & Company Pvt. Ltd. versus Kalyanpur Cements Ltd. under the I.B.C. The Resolution Professional (RP) has submitted a progress report indicating a discrepancy in fees charged for August 2017 (Rs. 4,25,000 plus taxes) compared to subsequent months (Rs. 1,75,000 lump sum). The court seeks clarification on this increase.

## Facts

M/s. Naresh Kumar & Company Pvt. Ltd. initiated a case against Kalyanpur Cements Ltd. under the Insolvency and Bankruptcy Code (IBC). The Resolution Professional (RP) submitted a progress report. The report indicated that the RP charged Rs. 4,25,000 plus taxes for August 2017, but only Rs. 1,75,000 lump sum for September 2017. The court found no reason for the increase in fees for August 2017 and required clarification. The court directed the RP to present in court on the next date of hearing and further directed that the CoC should decide over the matter why August, 2017 fee's is about 3 times of the Sept, 2017 fees. The matter was listed on 2017-10-04.

## Issues and analysis

### Issue 1: Whether the fees charged by the Resolution Professional (RP) for August 2017 are justified given …

**Ratio:** Resolution Professionals are expected to charge reasonable fees for their services, and

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**Reasoning:** The court observed a substantial increase in the RP's fees for August 2017 compared to

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**Interpretation:** The court is interpreting the implied requirement that RP fees should be

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**Application:** The court applied this principle by directing the RP to provide clarification

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## Parties

- **Judges:** Vijai Prata…; Jinan…
- **Appellants:** M/s. Naresh Kumar…
- **Respondents:** Kalyanpur Cements…

## Timeline

- **2017-09-13 — Hearing…**: Hearing held on September…
- **2017-08-01 — RP Fees for…**: RP charged Rs. 4,25,000 plus taxes…

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