NCLAT Upholds Jurisdiction of Adjudicating Authority to Determine Fees and Expenses of RP

The National Company Law Appellate Tribunal (NCLAT) affirmed the jurisdiction of the Adjudicating Authority to determine the fees and expenses of Resolution Professionals (RPs). The decision upheld that the Financial Creditor is liable for Corporate Insolvency Resolution Process (CIRP) costs, which must be reported to and determined by the Adjudicating Authority. The tribunal dismissed claims that the Adjudicating Authority lacked jurisdiction in this matter, reinforcing that their order is final and binding on the parties involved