# In the matter of Mintri Tea Company Pvt. Ltd. CA (IB) No. 427 & 525-KB-2018 In CP (IB) No. 421-KB-2017

> NCLT judgment dated 2019-03-13. Citation: TCN-2019-NCLT-04436. The case involves CP(IB) No 421/KB/2017, CA(IB) No.427/KB/2018, and CA (IB) No. 525/KB/2018…

- **Court:** NCLT
- **Order date:** 13 Mar 2019
- **Citation:** TCN-2019-NCLT-04436
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/mintri-tea-company-pvt-ltd-ca-ib-no-427-525-kb-2018-in-cp-ib-no-421-kb-2017-994b417d

## Summary

### Background

The case involves CP(IB) No 421/KB/2017, CA(IB) No.427/KB/2018, and CA (IB) No. 525/KB/2018 before the National Company Law Tribunal (NCLT), Kolkata Bench. The order addresses the payment of fees and resolution costs to the Resolution Professional. The Hon'ble NCLAT had previously set aside an order dated August 3, 2018, of the Adjudicating Authority in Company Appeal (AT)(Insolvency) No. 456 of 2018.

## Facts

The case involves a corporate insolvency resolution process. Punjab National Bank is the Financial Creditor, and Mintri Tea Company Pvt Ltd is the Corporate Debtor. The NCLAT had previously set aside an order of the Adjudicating Authority. The core issue revolves around the payment of fees and resolution costs to the Resolution Professional. The NCLAT directed the Corporate Debtor to pay the full amount approved by the Committee of Creditors, with Punjab National Bank responsible for checking and approving the bills. The Financial Creditor's counsel submitted that the approved bills were forwarded to the Corporate Debtor for payment, leading to the closure of the proceedings in CP(IB)No.421/KB/2017 by the NCLT.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor is obligated to pay the full amount of fees and resolution costs to …

**Ratio:** The NCLAT directed that the Corporate Debtor will pay the full amount as approved by the

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**Reasoning:** The NCLAT's direction is based on the principle that the Resolution Professional is

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**Interpretation:** This interprets the insolvency resolution process to prioritize the payment of

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**Application:** In this specific case, the Corporate Debtor, Mintri Tea Company Pvt Ltd, is

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## Parties

- **Judges:** Jinan…
- **Respondents:** Mintri Tea…

## Timeline

- **2018-08-03 — Original Ord…**: Date of the order set…
- **2019-03-13 — Hearing…**: Hearing on 13th March,…

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