# In the matter of Goldstar Impex Pvt. Ltd. (IB)-427(PB)-2019

> NCLT judgment dated 2020-01-13. Citation: TCN-2020-NCLT-02356. The case involves an application filed under Section 19(2) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 13 Jan 2020
- **Citation:** TCN-2020-NCLT-02356
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/goldstar-impex-pvt-ltd-ib-427pb-2019-4e248368

## Summary

### Background

The case involves an application filed under Section 19(2) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional against Respondent Nos. 1 to 11. The Resolution Professional is unable to collate claims or identify assets, as only R 1 & 3 were the Directors of the Corporate Debtor on the date of admission of the case. The Resolution Professional filed the application against R1 to 11, instead of filing only against R1 & 3.

## Facts

An application was filed under Section 19(2) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional against Respondent Nos. 1 to 11. Only Respondents 1 and 3 were the Directors of the Corporate Debtor at the time of the case's admission. The Resolution Professional is unable to collate claims or identify assets, even after verifying records. The Resolution Professional is unable to perform their duties and has filed the application against all respondents instead of just Respondents 1 and 3. The court notes the Resolution Professional's inability to discharge their functions.

## Issues and analysis

### Issue 1: Whether assistance should be provided to the Resolution Professional to carry out their functions …

**Ratio:** Section 429 of the Companies Act, 2013 allows for assistance to be given to the

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**Reasoning:** The court believes that providing assistance to the Resolution Professional would enable

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**Interpretation:** Section 429 of the Companies Act, 2013 is interpreted to allow for the

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**Application:** The court applies Section 429 of the Companies Act, 2013 to the present case,

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## Parties

- **Judges:** B.S.V. Prakash…; SH. S. K.…
- **Appellants:** Bharat…
- **Respondents:** Goldstar Impex…

## Timeline

- **2020-01-13 — Order Del…**: Order delivered on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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