# In the matter of Kaliber Associates Pvt. Ltd. (IB)228(PB)-2018

> NCLT judgment dated 2019-08-20. Citation: TCN-2019-NCLT-01896. The case involves Relan Buildwell Pvt. Ltd. and Kaliber Associates Pvt. Ltd. before the…

- **Court:** NCLT
- **Order date:** 20 Aug 2019
- **Citation:** TCN-2019-NCLT-01896
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kaliber-associates-pvt-ltd-ib228pb-2018-94faab3d

## Summary

### Background

The case involves Relan Buildwell Pvt. Ltd. and Kaliber Associates Pvt. Ltd. before the National Company Law Tribunal (NCLT), New Delhi Bench. The Resolution Professional (RP) filed an application citing non-cooperation from the Ex-Directors. A vague email was received from the Ex-Directors as an explanation to queries, which the court deemed insufficient. The statutory auditor confirmed that no sale of immovable property was brought to his notice during the auditing of the Corporate Debtor's account. The Ex-Directors' statement regarding property sales appeared baseless.

## Facts

Relan Buildwell Pvt. Ltd. is involved in a case with Kaliber Associates Pvt. Ltd. before the NCLT. The RP filed an application citing non-cooperation from the Ex-Directors of Relan Buildwell. The Ex-Directors provided a vague email as an explanation to queries. The statutory auditor stated that no sale of immovable property was brought to his notice during the audit. The Ex-Directors claimed properties were sold way back. The RP requested an investigation into the matter. The court directed the Ex-Directors to file an affidavit with details of all available information. The statutory auditor was also directed to file an affidavit regarding the preparation of audited accounts and financial statements.

## Issues and analysis

### Issue 1: Whether the Ex-Directors of Relan Buildwell Pvt. Ltd. have adequately cooperated with the …

**Ratio:** The principle of cooperation with the RP is essential for the successful completion of

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**Reasoning:** The court noted the RP's claim of non-cooperation and the inadequacy of the email

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**Interpretation:** The IBC mandates that the management and relevant stakeholders of the corporate

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**Application:** The court directed the Ex-Directors to file an affidavit with detailed

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## Parties

- **Judges:** L. N. G…; Ina Mal…
- **Respondents:** Relan Buildwell…; Kaliber Associates…

## Timeline

- **2019-08-19 — Vague Email R…**: A vague email was received from the Ex-Directors…
- **2019-08-20 — Hearing…**: Hearing before the…

## 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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