The case involves an application filed by the Interim Resolution Professional (IRP)/Applicant under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, seeking directions against the Promoter-Director/Respondent to provide necessary documents. The IRP was appointed after the case was admitted on 2019-04-30. The IRP requested documents from the respondent, including audited financials, bank details, and compliance records, but the respondent failed to provide them and instead stated an intention to settle dues with the Financial Creditor (Union Bank of India).
The Interim Resolution Professional (IRP) of R.A Samy Trading Private Limited filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the Promoter-Director/Respondent, Mr. Arugmugamsamy, to provide essential documents. The documents requested included audited financials from 2010 to 2018, bank details, agreements with third parties, compliance records, employee lists, and auditor details. The IRP met with the Respondent on 2019-05-04 and again on 2019-05-07, but the Respondent failed to provide the documents, instead stating an intention to settle dues with the Financial Creditor (Union Bank of India). The Respondent also failed to appear before the court to explain their position. The Corporate Insolvency Resolution
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The case was admitted…
The IRP/Applicant met the Promoter…
The case involves an application filed by the Interim Resolution Professional (IRP)/Applicant under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, seeking directions against the Promoter-Director/Respondent to provide necessary documents. The IRP was appointed after the case was admitted on 2019-04-30. The IRP requested documents from the respondent, including audited financials, bank details, and compliance records, but the respondent failed to provide them and instead stated an intention to settle dues with the Financial Creditor (Union Bank of India).
The Interim Resolution Professional (IRP) of R.A Samy Trading Private Limited filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the Promoter-Director/Respondent, Mr. Arugmugamsamy, to provide essential documents. The documents requested included audited financials from 2010 to 2018, bank details, agreements with third parties, compliance records, employee lists, and auditor details. The IRP met with the Respondent on 2019-05-04 and again on 2019-05-07, but the Respondent failed to provide the documents, instead stating an intention to settle dues with the Financial Creditor (Union Bank of India). The Respondent also failed to appear before the court to explain their position. The Corporate Insolvency Resolution
…The case was admitted…
The IRP/Applicant met the Promoter…