Payment of liquidator fee mandatory even if secured creditor proceeds to realise its security interest

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 pub

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