# In the matter of Nithin Nutritions Private Limited IA No. 153-2020 in CP (IB) No. 160-10-AMR-2019

> NCLT judgment dated 2022-01-04. Citation: TCN-2022-NCLT-04551. The application was filed by Mr. Pavan Kankani, the erstwhile Insolvency Resolution…

- **Court:** NCLT
- **Order date:** 4 Jan 2022
- **Citation:** TCN-2022-NCLT-04551
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nithin-nutritions-private-limited-ia-no-153-2020-in-cp-ib-no-160-10-amr-2019-11f95790

## Summary

### Background

The application was filed by Mr. Pavan Kankani, the erstwhile Insolvency Resolution Professional (IRP), seeking a direction to the Respondents (members of the Committee of Creditors - CoC) to release his pending dues. The applicant sought the release of his dues within a reasonable time. The Counsel for the Corporate Debtor agreed to fix a fee for the Applicant, who was the erstwhile IRP, on par with the fee fixed for the present IRP. The Counsel for the 2nd Respondent objected, stating that the Applicant had moved the Tribunal seeking fee fixation, and the Application was allowed, against which an Appeal was preferred.

## Facts

Pavan Kankani, the former Insolvency Resolution Professional (IRP) of M/s. Nithin Nutritions Private Limited, filed an application seeking the release of his pending dues. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The respondents included the current Resolution Professional, Naga Bushan Bhagwati, Bank of India, and members of the Committee of Creditors (CoC). The Counsel for the Corporate Debtor agreed to fix a fee for the Applicant on par with the current IRP. The Counsel for the 2nd Respondent objected, citing a pending appeal against the NCLT's order on fee fixation. The NCLAT had set aside the orders passed by the NCLT in I.A.No.34/2020 and other IAs. The court determined that the applicant is entitled to fees until

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## Issues and analysis

### Issue 1: Whether the erstwhile Insolvency Resolution Professional (IRP) is entitled to the release of his …

**Ratio:** Regulation 33 of the Insolvency and Bankruptcy Code (Insolvency Resolution Process for

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**Reasoning:** The court considered the provisions of Regulation 33, which outlines the process for

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**Interpretation:** Regulation 33 provides a framework for determining the expenses and fees of the

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**Application:** The court applied Regulation 33 and the NCLAT's order to determine the period

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## Parties

- **Judges:** TELAPROLU…
- **Appellants:** Pavan Ka…
- **Respondents:** NITHIN NUTRITIONS…; Naga Bushan…

## Timeline

- **2019-01-01 — CP(IB) F…**: CP(IB) No.160/10/AMR/201…
- **2020-01-01 — IA Filed…**: IA No.153/2020 was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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