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Judgment
Heard Learned Counsel for the Appellant. This appeal has been filed against the order dated 10.06.2022 by which order the Adjudicating Authority (National Company Law Tribunal, Kolkata) has rejected the application I.A. (IB) No. 313/KB/2022 filed by the Appellant for replacement of the Resolution Professional.
Adjudicating Authority has observed that in view of the fact that report has been submitted by the Resolution Professional, appointed in the matter, the application has become infructuous.
Learned Counsel for the Appellant submits that view taken by the Adjudicating Authority is erroneous since the submission of the report is not the only act to be done by the Resolution Professional and in the proceedings under Section 95 several further steps are to be taken by the Resolution Professional.
We find substance in the submission of the counsel for appellant.
Learned Counsel appearing for the Resolution Professional submits that he has no objection if the application for replacement is considered by the Adjudicating Authority a fresh. He further submits that he is also entitled for his payment or fee etc.
In view of the above, we set aside the order impugned dated 10.06.2022, revive the I.A. (IB) No. 313/KB/2022 before the Adjudicating Authority for fresh consideration. It is always open for the Resolution Professional to make an appropriate application for fee and expenses before the Adjudicating Authority.
The appeal is disposed of accordingly.