# In the matter of Maha Associated Hotels Private Limited

> NCLT judgment dated 30 Apr 2024. Citation: TCN-2024-NCLT-01528. The present case involves an Interlocutory Application (IA No. 228/JPR/2023) filed by Mr.…

- **Court:** NCLT
- **Order date:** 30 Apr 2024
- **Citation:** TCN-2024-NCLT-01528
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/maha-associated-hotels-private-limited-495d0d89

## Summary

### Background

The present case involves an Interlocutory Application (IA No. 228/JPR/2023) filed by Mr. Naresh Kumar Munjal, the erstwhile Resolution Professional (ERP) of Maha Associated Hotels Private Limited, seeking directions against Punjab & Sind Bank (the Sole Financial Creditor) for the payment of his fees and expenses. The Corporate Insolvency Resolution Process (CIRP) for Maha Associated Hotels Private Limited was initiated on September 20, 2018, following an application filed by M/s UVA Engineers Private Limited, an operational creditor. Mr. Brij Mohan Sharma was initially appointed as the Interim Resolution Professional (IRP), but the Committee of Creditors (CoC) later replaced him with Mr. Naresh Kumar Munjal, the applicant in this IA, on November 12, 2018. The CoC,

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## Facts

Mr. Naresh Kumar Munjal, the erstwhile Resolution Professional (ERP) of Maha Associated Hotels Private Limited, filed an Interlocutory Application (IA No. 228/JPR/2023) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC). The application sought directions against Punjab & Sind Bank, the sole financial creditor, for the payment of his fees amounting to Rs. 23,63,888/- and travelling and out-of-pocket expenses of Rs. 1,03,500/-.

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## Issues and analysis

### Issue 1: Whether the erstwhile Resolution Professional (ERP) is entitled to the full claimed amount of fees…

**Ratio:** The fees payable to a Resolution Professional for services rendered during the CIRP,…

**Reasoning:** The court reasoned that the ERP had failed to carry out several crucial duties during his…

**Interpretation:** The court interpreted **Section 5(13) of the IBC** and **Regulations 31, 33,…

**Application:** Applying this interpretation to the facts, the court found that the ERP had…

## Parties

- **Judges:** Deep Chandr…; RAJEEV ME…
- **Advocates:** Ram Charan…; Gourav S…

## Timeline

- **November 12, 2018 — RP Appoin…**: The Committee of Creditors (CoC) in its 2nd meeting replaced the Interim Resolution…
- **November 20, 2019 — CoC Resolution…**: The CoC in its 14th meeting resolved that the Resolution Professional's fee would be a…

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