NCLT Dismisses Siddharth Tubes IRP's Rs 35.67 Lakh Fee Claim

NCLT Indore dismissed an appeal by former Interim Resolution Professional Amresh Shukla seeking payment of Rs 35.67 lakh as CIRP costs from Siddharth Tubes Limited's liquidation estate.
The tribunal found the IRP failed to prove his fees were duly approved by the Committee of Creditors, with evidence suggesting meeting minutes were manipulated and expenses unratified.
Serious allegations were noted against the IRP, including failure to protect corporate debtor assets, unauthorized security contracts, and procedural irregularities in conducting CoC meetings.
The liquidator's rejection of the claim was upheld as legitimate due to lack of CoC approval and concerns about the IRP's conduct during the insolvency resolution process.