Outgoing Liquidator Entitled to Minimum Fee of Rs. 2 Lakh as Per IBBI Regulations: NCLT

The National Company Law Tribunal (NCLT) has ruled that an outgoing liquidator is entitled to a minimum fee as per the Insolvency and Bankruptcy Board of India (IBBI) regulations. This decision ensures fair compensation for liquidators who have completed a portion of the liquidation process. The ruling clarifies the rights of liquidators in cases of transition or replacement. This judgment provides a precedent for determining liquidator fees, promoting transparency and consistency. The NCLT's decision upholds the IBBI regulations, ensuring equitable treatment for liquidators. This ruling helps maintain the integrity and professionalism of the insolvency resolution process.