# In the matter of Noesis Industries Ltd. CA No. 32-2019 In (IB)-201-PB-2018

> NCLT judgment dated 2019-02-04. Citation: TCN-2019-NCLT-05025. The case pertains to CA No. 32/2019 (IB)-201/PB/2018 filed under Section 9 of the IBC Code,…

- **Court:** NCLT
- **Order date:** 4 Feb 2019
- **Citation:** TCN-2019-NCLT-05025
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/noesis-industries-ltd-ca-no-32-2019-in-ib-201-pb-2018-a396aa55

## Summary

### Background

The case pertains to CA No. 32/2019 (IB)-201/PB/2018 filed under Section 9 of the IBC Code, 2016. The Resolution Professional (RP) filed an application seeking the cooperation of the Directors of the Corporate Debtor, whose powers are suspended due to the CIRP process. The RP also pointed out that the information sought was annexed as Annexure-'D' and documents as Annexure-'E'. Notice of the application was issued to seven persons.

## Facts

The Resolution Professional (RP) filed CA No. 32/2019 seeking cooperation from the Directors of Noesis Industries Ltd., the Corporate Debtor, whose powers were suspended due to the CIRP process. The RP sought specific information, annexed as Annexure-'D' and Annexure-'E'. The court noted that Mr. Deepak Gupta appeared and represented that cooperation was being provided. The notice of the application was issued to seven persons. The RP was seeking information to facilitate the CIRP process. The court directed the Director and other listed individuals to provide the information sought by the RP within 10 days, as detailed in Annexure-'E' and Annexure-'F'.

## Issues and analysis

### Issue 1: Whether the Directors of the Corporate Debtor are obligated to cooperate with the Resolution …

**Ratio:** The principle of cooperation with the Resolution Professional during the CIRP process is

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**Reasoning:** The court reasoned that the CIRP process requires the active participation and

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**Interpretation:** The legal interpretation is that the Directors' duty to cooperate arises from

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**Application:** In this case, the court applied the principle by directing Mr. Deepak Gupta,

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## Parties

- **Judges:** R. VARADH…
- **Appellants:** VINOD K…
- **Respondents:** Noesis Industries…

## Timeline

- **2019-02-04 — Order Del…**: Order delivered by the NCLT, directing…
- **2019-01-01 — CA No. 32/201…**: CA No. 32/2019 (IB)-201/PB/2018 filed by the Resolution Professional seeking cooperation…

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