SC on who is liable to pay Costs of interim resolution professional

S3 Electricals and Electronics Private Limited Vs Brian Lau & Anr. (Supreme Court of India) A bare reading of Regulation 33(3) indicates that the applicant is to bear expenses incurred by the RP, which shall then be reimbursed by the Committee of Creditors to the extent such expenses are ratified. We are informed that, in this case, no Committee of Creditors was ever appointed as the interim resolution process did not reach that stage. In these circumstances, it is clear that whatever the Adjudicating Authority fixes as expenses will be borne by the creditor who moved the application. FULL...