Mr. Amit Naidu vs M/s. PropUrban Advisory Services Private Limited (Formerly known as Bluering Realtech Private Limited)

Per: Rajeswara Rao Vittanala, Member (J)

C.P.(IB)No.234/BB/2018 is filed by Mr. Amit Naidu (hereinafter referred to as 'Petitioner/Operational Creditor') under Section 9 of the IBC, 2016 read with Rule 6 of the I&B(Application to Adjudicating Authority) Rules, 2016, by inter alia seeking to initiate the Corporate Insolvency Resolution Process (CIRP) in respect of M/s.PropUrban Advisory Services Private Limited (hereinafter referred to as 'Respondent/Corporate Debtor') on the ground that the Corporate Debtor committed default for an amount of Rs.19,27,828/- (Rupees Nineteen Lakhs Twenty Seven Thousand Eight Hundred and Twenty Eight only). The petition was admitted on 24.06.2019 by this Adjudicating Authority by initiating CIRP, appointed IRP etc.

Aggrieved by order of this Adjudicating Authority dated 24.06.2019, Mr. Jafar Ali, the Director and Shareholder of the Corporate Debtor has filed Company Appeal (AT) (Insolvency) No.727 of 2019 before the Hon'ble NCLAT. The Hon'ble NCLAT passed an order dated 09.09.2019 by setting aside the impugned order with a direction to this Adjudicating Authority to close the proceedings initiated wide order dated 24.06.2019 since the issue has already settled between the parties. It is also directed to fix the fee and cost of resolution process after excluding a sum of Rs.1.5 Lakhs has already paid to the IRP by Mr. Amit Naidu.

Heard Shri Saravana Prabhu J., learned Counsel for the Respondent. We have carefully perused the pleadings of the party and also the extant provisions of the Code and the order of the Hon'ble NCLAT.

Since the Hon'ble NCLAT has already directed to close the proceedings on the ground that the issue has been settled, now one remains to fix the fee of the IRP and cost of the resolution process if any. However, the IRP is not present today to claim any fee.

Hence, C.P.(IB)No.234/BB/2018 is closed by directing the Corporate Debtor to settle the fee of IRP and cost of resolution process, basing on the claim made by the IRP reasonably. No order as to costs.