# In the matter of JAS Infrastructure and Power Limited

> NCLT judgment dated 2025-07-04. Citation: TCN-2025-NCLT-00835. The Interlocutory Application was filed under Section 60(5) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 4 Jul 2025
- **Citation:** TCN-2025-NCLT-00835
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-guwahati/jas-infrastructure-and-power-limited-35f28f45

## Summary

### Background

The Interlocutory Application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking a direction for the Respondents to pay a fixed monthly remuneration of INR 2,50,000 to the Applicant/Liquidator.

## Facts

The Applicant is the Liquidator of JAS Infrastructure & Power Limited.

The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor commenced by an order dated 16.10.2019 passed by the Hon'ble Tribunal at Kolkata.

The Committee of Creditors (CoC) had chosen one Mr. Sajjan Kumar Dokania to act as the Liquidator, but the Hon'ble Tribunal appointed the Applicant as the Liquidator on 17.07.2020.

The Hon'ble NCLAT, vide interim order dated 10.09.2020 in Company Appeal (AT) (Ins) No. 770 of 2020 filed by the erstwhile promoter of the Corporate Debtor, restrained sale of assets. The said appeal was dismissed on 11.10.2022, vacating the restraint

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## Issues and analysis

### Issue 1: Whether the Liquidator is entitled to a fixed …

**Ratio:** The Liquidator is not entitled to a fixed monthly remuneration in the absence of a

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**Reasoning:** Regulation 4 of the Liquidation Regulations stipulates that the Liquidator's fee shall be

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**Interpretation:** The Tribunal interpreted Regulation 4(2) to mean that a fixed monthly

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**Application:** The Tribunal applied this interpretation to the present case, where the CoC and

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## Parties

- **Judges:** Rammurti Ku…; Yogendra Kumar…
- **Appellants:** Kannan Tiruvengada…
- **Respondents:** Jas Infrastructure…; Assets Care &…; +7 more
- **Advocates:** S. Ma…; Rishav Ba…; +1 more

## Timeline

- **2019-10-16 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor commenced by an…
- **2020-07-17 — Liquidation Com…**: The same Bench directed the commencement of liquidation process of the Corporate Debtor…

## 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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