The NCLAT Bench comprising Justice Rakesh Kumar Jain (Judicial Member) and Technical Members Mr. Naresh Salecha and Mr. Indevar Pandey, while adjudicating a company appeal, clarified that the resolution professional cannot enforce CIRP cost contributions in the absence of a CoC resolution with the required 66% majority. The Tribunal further held that simply terming it a “contribution” does not exempt it from the statutory safeguards and voting thresholds prescribed under the Code.
