Success Fees’ is Contingent & Speculative in Nature & Not form Part of IBC: NCLAT

Jayesh N. Sanghrajka Vs The Monitoring Agency nominated by the Committee of Creditors of Ariisto Developers Pvt. Ltd. (NCLAT Delhi) Appellant claiming that he had done excessively well to deserve Rs. 3 Crores of success fees, the Adjudicating Authority had made comments as to what was the scenario when it was supervising the CIRP. We have seen the observations of the Adjudicating Authority in impugned para 23 of the impugned order. The Adjudicating Authority was at the ground level monitoring the progress of CIRP and its observations cannot be simply ignored. For the above reasons, we hold tha...