# In the matter of Meena Jewellers Exclusive Pvt. Ltd.
IA No. 467,673,,727-2020 in CP (IB) No. 663-7-HDB-2018

> NCLT judgment dated 2020-09-08. Citation: TCN-2020-NCLT-00687. The case involves an application filed by the Resolution Professional (RP) of Meena Jewellers…

- **Court:** NCLT
- **Order date:** 8 Sept 2020
- **Citation:** TCN-2020-NCLT-00687
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/meena-jewellers-exclusive-pvt-ltd-ia-no-467673727-2020-in-cp-ib-no-663-7-hdb-201-dee2b5c4

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) of Meena Jewellers Pvt Ltd, the Corporate Debtor, seeking directions against the Commissioner of Police, Hyderabad City (respondent no.3) for assistance in taking custody and possession of the Corporate Debtor's assets from respondents no.1 and 2. The RP also sought directions for the respondents to provide physical possession of the assets and extend cooperation in the ongoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated following the admission of an application filed by State Bank of India (SBI) under Section 7 of the Insolvency and Bankruptcy Code (IBC).

## Facts

The State Bank of India filed an application under Section 7 of the I&B Code, which was admitted on 26.11.2019, initiating the Corporate Insolvency Resolution Process (CIRP) for Meena Jewellers Pvt Ltd. Dr. K.V. Srinivas was appointed as the Resolution Professional (RP). The RP filed an application (IA No.467 of 2020) seeking directions against the Commissioner of Police, Hyderabad City, and respondents no.1 and 2 (Umesh Purshottam Jethwani and Sanjay Kumar Vada) for failing to cooperate in handing over the assets, records, and information of the Corporate Debtor. The RP alleged that the respondents did not extend cooperation despite repeated requests and a prior Tribunal order dated 10.02.2020. The Corporate Debtor had three jewellery showrooms at Basheer Baug,

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## Issues and analysis

### Issue 1: Whether the respondents (erstwhile directors) have failed to cooperate with the Resolution …

**Ratio:** The legal principle is that the management of a Corporate Debtor is obligated to

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**Reasoning:** The court reasoned that the Resolution Professional was unable to take control of all the

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**Interpretation:** The interpretation of the IBC emphasizes the importance of cooperation from the

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**Application:** In this case, the court found that the respondents had failed to cooperate with

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## Parties

- **Judges:** Ratakonda…; Veera Brahma Rao…
- **Appellants:** Dr.K.V.Sr…
- **Respondents:** Meena Jewellers…; Umesh Purshottam…

## Timeline

- **2019-11-26 — CIRP Init…**: Application filed by State Bank of India under Section 7 of the I&B Code was admitted,…
- **2020-02-10 — Tribunal…**: The Tribunal directed the respondents to…

## 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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