The Resolution Professional (RP) filed an application seeking cooperation from the Associate Vice President - Finance (R2), who controls the company's finances. The Bench had directed the Respondent counsel to produce documents requested by the RP, but they were not produced. The Bench believes the Respondent is not cooperating with the RP.
The Resolution Professional (RP) sought cooperation from the Associate Vice President - Finance (R2) of the company, as R2 controls the finances. The RP requested certain documents, but the Respondent counsel failed to produce them despite the Bench's direction. The court noted the lack of cooperation and directed R2 to provide the documents within 10 days, or face intervention from the District Collector of Chennai. The CoC's failure to decide on resolution or liquidation within the CIRP period was also noted.
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Hearing held a…
The Resolution Professional (RP) filed an application seeking cooperation from the Associate Vice President - Finance (R2), who controls the company's finances. The Bench had directed the Respondent counsel to produce documents requested by the RP, but they were not produced. The Bench believes the Respondent is not cooperating with the RP.
The Resolution Professional (RP) sought cooperation from the Associate Vice President - Finance (R2) of the company, as R2 controls the finances. The RP requested certain documents, but the Respondent counsel failed to produce them despite the Bench's direction. The court noted the lack of cooperation and directed R2 to provide the documents within 10 days, or face intervention from the District Collector of Chennai. The CoC's failure to decide on resolution or liquidation within the CIRP period was also noted.
Hearing held a…