# In the matter of Care IT Solutions Pvt. Ltd. MA-592-2018 In CP-1056-IB-2018

> NCLT judgment dated 2019-01-09. Citation: TCN-2019-NCLT-05289. The case involves an application (MA/592/2018) in a corporate insolvency resolution process…

- **Court:** NCLT
- **Order date:** 9 Jan 2019
- **Citation:** TCN-2019-NCLT-05289
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/care-it-solutions-pvt-ltd-ma-592-2018-in-cp-1056-ib-2018-ab3afb30

## Summary

### Background

The case involves an application (MA/592/2018) in a corporate insolvency resolution process (CP/1056/IB/2018) before the National Company Law Tribunal (NCLT), Chennai Bench. The Corporate Debtor's counsel provided an oral undertaking to the Bench to provide all company documents to the Resolution Professional.

## Facts

Federal Bank Ltd initiated a corporate insolvency resolution process against Care IT Solutions Pvt Ltd. During the proceedings, the Corporate Debtor's counsel gave an oral undertaking to the NCLT Chennai Bench to provide all necessary company documents to the Resolution Professional on or before January 11, 2019. The application number is MA/592/2018 and the petition number is CP/1056/IB/2018. The undertaking was crucial for the resolution process, as it ensured the Resolution Professional would have the necessary information to proceed.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be directed to provide all necessary documents to the …

**Ratio:** The principle of cooperation and transparency in the corporate insolvency resolution

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**Reasoning:** The court reasoned that the Corporate Debtor's undertaking to provide the documents is

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**Interpretation:** This issue involves the interpretation of the duties and responsibilities of

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**Application:** The court applied the principle by directing the Corporate Debtor (Care IT

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Federal Ban…
- **Respondents:** CARE IT SOLUTIONS…

## Timeline

- **2019-01-09 — Hearing…**: Hearing held at 10:30 AM before the Chennai…
- **2019-01-11 — Deadline for Document…**: Corporate Debtor's counsel undertook to provide all company documents to the Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 19(2) — Personnel to extend co-operation to interim…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-19)

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