Hire Charges Cannot Be Calculated In CIRP Costs When Asset Is Not Used by Corporate Debtor: NCLAT New Delhi

The NCLAT New Delhi ruled that hire charges cannot be calculated in CIRP costs when the asset is not used by the corporate debtor. CIRP costs are expenses incurred during the corporate insolvency resolution process. The tribunal's decision clarifies that costs related to assets not utilized during the CIRP cannot be considered essential for the resolution process and therefore should not be included in the CIRP costs.