In the matter of Anand Ramachandra Bhat Vs. Falcon Tyres Ltd. & Ors. CA(AT)(Insolvency) No. 621-2019

It is not clear as to how the Appellant can claim fee of Rs.14 Lakhs per month in addition to actual expenses. We find that the Adjudicating Authority has fixed Rs. 2,00,000/- per month as fee which is reasonable to IRP/RP in addition to actual expenses incurred by way of publication, other professional fees like registered valuers, legal advisers and Company Secretaries etc. We are not inclined to interfere with the impugned order dated 10th December, 2018 apart from the fact that there is a delay of 136 days in preferring the appeal and this Appellate Tribunal has no power to condone delay beyond 15 days in addition to 30 days in preferring the appeal in view of Section 61(2) of the Insolvency and Bankruptcy Code, 2016 (‘I&B’ Code). We dismiss the appeal being barred by limitation.

[Justice S.J. Mukhopadhaya]

Chairperson

[ Justice A.I.S. Cheema ]

Member (Judicial)

[ Kanthi Narahari ]

Member (Technical)