|National Company Law Appellate Tribunal
IBC Regulation 34 | Stay on CoC Constitution Limits IRP Fees to Pro Rata Basis for Functions Performed : NCLAT
NCLAT rules that an Interim Resolution Professional (IRP) is entitled only to proportional fees for duties performed during a stay on Committee of Creditors (CoC) constitution, rejecting claims for full statutory remuneration. The ruling clarifies that fee entitlement under IBC is contingent on actual functions discharged, not mere appointment duration.