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NATIONAL COMPANY LAW TRIBUNAL
SMT. BIDISHA BANERJEE, MEMBER (JUDICIAL), CMDE SIDDHARTH MISHRA, MEMBER (TECHNICAL)
SBER Bank – Appellant
Versus
Mr. Akshay Jhunjhunwala – Respondent
| Table of Content |
|---|
| 1. liquidator files for reimbursement of costs incurred. (Para 1 , 2 , 3) |
| 2. respondent's arguments against reimbursement based on regulation. (Para 4 , 5 , 6) |
| 3. court's ruling on applicability of costs and fees. (Para 7 , 8 , 9) |
| 4. final decision dismissing the application for reimbursement. (Para 10 , 12) |
ORDER
Per Siddharth Mishra, Member (Technical):
1. Heard the Ld. Counsels for the parties.
In C.P. (IB) No. 543/KB/2017
2. This Application has been preferred by the Liquidator of Varrsana Ispat Limited to seek the following reliefs, inter alia:
2.1.Direct the Respondent to make payment of INR 1,87,07,544/-(Rupees One Crores Eighty-seven Lakhs one Thousand five Hundred and forty-four only) towards the expenses incurred by the Liquidator during the period in which the Scheme of Compromise and Arrangement was being considered (i.e. from 06.08.2019 to 13.08.2019.
2.2.Pass such other / further order (s) as this Tribunal may deem fit and proper.
3. The applicant has submitted following for consideration:
3.1 It is submitted that the present application is filed under Section 35 (1)(n) of the Code read with Rule 11 of the NCLT Rules and Regulations 2B and 4(2)(a) of the Liquidati
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