# In the matter of Kalyanpur Cements Ltd.

> NCLT judgment dated 2017-09-13. Citation: TCN-2017-NCLT-00417. 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-00417
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kalyanpur-cements-ltd-3ac5db56

## 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 filed 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). No justification was provided for the increase in fees for August 2017.

## 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 revealed that the RP charged Rs. 4,25,000 plus taxes for the month of August 2017. Subsequently, the RP charged a lump sum of Rs. 1,75,000 per month starting from September 2017. The court observed that there was no explanation provided for the increase in fees for the month of August 2017. The court found the difference in fees significant, with the August fees being approximately three times higher than the September fees. This discrepancy raised concerns about the reasonableness and justification of the fees charged by the RP.

## Issues and analysis

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

**Ratio:** Resolution Professionals are entitled to reasonable fees for their services, but these

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**Reasoning:** The court observed a substantial difference in the fees charged by the RP for August 2017

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**Interpretation:** The principle of reasonable compensation for Resolution Professionals requires

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**Application:** In this case, the RP charged significantly higher fees for August 2017 without

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## Parties

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

## Timeline

- **2017-08-01 — RP Fees for Au…**: RP charged Rs. 4,25,000…
- **2017-09-01 — RP Fees for September…**: RP charged Rs. 1,75,000…

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