NCLAT Upholds NCLT Order Reducing IRP Remuneration to ₹50,000 Per Month During Stay Period

CMA Harshad Deshpande Vs Rakesh Kumar Relan (NCLAT Delhi) NCLT’s Reduction of IRP Remuneration to ₹50,000 Monthly Fee during stay period was held reasonable: NCLAT Delhi Conclusion: Fee reduction of ₹50,000 for the Interim Resolution Professional (IRP) ordered by NCLT was reasonable, given that the IRP’s role was restricted by an interim stay on the constitution of the Committee of Creditors (CoC) between February 28 and September 1, 2023. Held: The issue arose when the insolvency process against the corporate debtor Tradco Deesan Pvt. Ltd. began on Februaryâ...