"Success Fee" for Resolution Professional is not part of IBC: NCLAT

"We hold that ‘success fees’ which is more in the nature of contingency and speculative is not part of the provisions of the IBC and the regulations and the same is not chargeable."

The National Company Law Appellate Tribunal (NCLAT) has ruled that Resolution Professionals should not charge "success fees", opining that such fee is contingent and speculative in nature and not part of the Insolvency Bankruptcy Code (IBC) and its regulations. (Jayesh N Sanghrajka,
Erstwhile RP of Ariisto Developers Pvt. Ltd. v. The Monitoring Agency nominated by the Committee of Creditors of Ariisto Developers Pvt. Ltd

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