This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Payment of liquidator fee mandatory even if secured creditor proceeds to realise its security interest
Case Law Details
- Case Name
- Shikshak Sahakari Bank Ltd. Vs Jagdish Kumar Parulkar (NCLAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLAT
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Shikshak Sahakari Bank Ltd. Vs Jagdish Kumar Parulkar (NCLAT Delhi)
NCLAT Delhi held that even if the secured creditor proceeds to realise its security interest it is liable to pay liquidator fee as contemplated under Regulation 21A (2)(a) of the Liquidation Regulations, 2016.
Facts- NCLT, Mumbai, initiated Corporate Insolvency Resolution Process (CIRP) proceeding against the Corporate Debtor on 16.09.2021. Since CIRP did not result in fruitful result, the NCLT passed orders for liquidation of the Corporate Debtor.
The Respondent / Liquidator made public announcement in compliance with Regulat...
Author Info
