Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: 14 August 2026
Case Overview
This appeal, registered as Company Appeal (AT) (CH) (Ins) No. 309/2025, involves a dispute between FirstStep Ventures Ltd. (the Resolution Applicant of Frontier Lifeline Pvt. Ltd.) and Mr. S. Rajagopal (Chairman of the Monitoring Committee of Frontier Lifeline Pvt. Ltd.) regarding the quantum of remuneration payable to the liquidator. The appellant contested liability for the full claim amount, asserting responsibility only for a fraction. During proceedings, the appellant's counsel, Mr. Anirudh Krishnan, made a submission to the tribunal that his client would calculate and pay the specific amount they admit is payable, rather than the entire claimed sum.
Final Outcome
The tribunal recorded the statement made by the appellant's counsel and directed the appellant to expedite their calculation of the admitted amount. The appellant was ordered to make this payment to the liquidator within two weeks from the order date (14 August 2026). As the respondent sought time to review the appellant's submitted notes, the matter was adjourned and listed for further orders on 15 September 2026.
Topics: Insolvency Proceedings, Liquidator Remuneration