# In the matter of Him Steel Pvt. Ltd. (IB)-494(PB)-2019

> NCLT judgment dated 2020-01-15. Citation: TCN-2020-NCLT-02330. The Resolution Professional (RP) filed an application seeking directions against the…

- **Court:** NCLT
- **Order date:** 15 Jan 2020
- **Citation:** TCN-2020-NCLT-02330
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/him-steel-pvt-ltd-ib-494pb-2019-63d7618b

## Summary

### Background

The Resolution Professional (RP) filed an application seeking directions against the promoters/directors of the corporate debtor (respondents no. 1 to 4) and the purchasers of one of the assets lying with the corporate debtor (R-5 & 6) to immediately handover entire physical and electronic record and data of the corporate debtor. The RP also sought the court to take notice of the conduct of the respondents which are in clear contempt. The company petition was admitted on 15.07.2019, and the CIRP of 180 days had already expired. The RP could not obtain the records and books of the company from the respondents, who did not respond to the orders passed by the bench on 30.07.2019.

## Facts

Syndicate Bank initiated proceedings against Him Steel Pvt. Ltd. under Section 7 of the IBC, 2016. The Resolution Professional (RP) filed an application seeking directions against the promoters/directors of the corporate debtor (respondents no. 1 to 4) and the purchasers of one of the assets lying with the corporate debtor (R-5 & 6) to immediately handover entire physical and electronic record and data of the corporate debtor. The company petition was admitted on 15.07.2019, but the RP could not obtain the records and books of the company. The premises where the books were located had been sold to R5&6 on 11.04.2018. The RP filed an application under Section 19(2) of the Code. The registered office is located in Peeragarhi. The CIRP of 180 days has been over.

## Issues and analysis

### Issue 1: Whether the promoters/directors of the corporate debtor and the purchasers of the assets are …

**Ratio:** Section 19(2) of the Code allows the RP to seek directions from the court to compel the

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**Reasoning:** The court observed that the respondents were not inclined to provide the records of the

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**Interpretation:** Section 19(2) of the Code is interpreted to empower the RP to obtain necessary

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**Application:** The court considered the RP's application under Section 19(2) of the Code and

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## Parties

- **Judges:** B.S.V. Prakash…; SH. S.K MOH…
- **Appellants:** Syndicate…
- **Respondents:** Him Steel Pvt.…

## Timeline

- **2018-04-11 — Sale of Pr…**: The premises where the books of the corporate…
- **2019-07-15 — Admission of Company…**: The company petition…

## 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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