Motel Rahans Pvt Ltd vs JSM Devcons Pvt Ltd
IA/98(MP)2023 in C.P.(IB)/56(MP)2021
Facts:
1.JSM Devcons Pvt Ltd. (“Corporate Debtor”) is a company engaged in the real estate sector and was admitted into Corporate Insolvency Resolution Process vide order dated 17.03.2022.
2.Applicant has filed the application appoint an independent transaction auditor to undertake transaction (under Section 43, 45, 50 & 66) audit for period 2009-10 till ICD.
Issue: Whether the application filed by Financial Creditor to appoint Forensic auditor to undertake transaction audit can be allowed?
Decision: NCLT allowed the Application.
Rationale:
1.NCLT noted that it is for the RP/IRP to run the affairs of CIRP and it is for him to take a call regarding the services of the Professional to be availed for the purpose of successful completion of CIRP.
2.It also relied on the IBBI order IBBI/DC/128/2022 passed by the IBBI on 07.09.2022 and noted that the IBBI has already made it clear that the decision of the CoC regarding the services of Professional is limited to sanction of their fees and the rest of decision is to be taken by the RP.
3.It ordered the RP to appoint an auditor to conduct the forensic audit of the Corporate Debtor for the period referred to in the IA and the auditor would submit its report within four weeks thereafter. It goes without saying that the fees of the auditor would be payable by the applicant herein.
Order Copy:
