ALOK KAUSHIK Vs. BHUVANESHWARI RAMANATHAN

JUDGEMENT

(1.) Admit.

(2.) The present appeal arises out of proceedings relating to the insolvency of a company by the name of Kavveri Telecom Infrastructure Limited ("Corporate Debtor"). The National Company Law Tribunal, Bengaluru ("NCLT" or "Adjudicating Authority") initiated the Corporate Insolvency Resolution Process ("CIRP") against the Corporate Debtor by its order dated 21 March 2019. By an order dated 26 August 2019, the first respondent was appointed as the Resolution Professional ("RP").

(3.) By a letter dated 16 September 2019, the first respondent appointed the appellant as a registered valuer of the Plant and Machinery of the Corporate Debtor, under Regulation 27 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 ("IRP Regulations"). The appellant was appointed to value the plant and machinery at 115 sites of the Corporate Debtor across India. The appellant's appointment fee (Rs 7.50 lakhs plus applicable GST) and other expenses were ratified by the Committee of Creditors ("CoC"), led by the second respondent, in its meeting held on 9 December 2019.