# In the matter of R. A. Samy Trading Private Limited MA-588-2019 in IBA-332-2019

> NCLT judgment dated 2019-06-26. Citation: TCN-2019-NCLT-02779. The case involves an application filed by the Interim Resolution Professional (IRP)/Applicant…

- **Court:** NCLT
- **Order date:** 26 Jun 2019
- **Citation:** TCN-2019-NCLT-02779
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/r-a-samy-trading-private-limited-ma-588-2019-in-iba-332-2019-61f667b6

## Summary

### Background

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).

## Facts

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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## Issues and analysis

### Issue 1: Whether the Promoter-Director/Respondent is obligated to provide the requested documents to the …

**Ratio:** Section 60(5) of the IBC empowers the NCLT to deal with any question of law or fact

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**Reasoning:** The court reasoned that the IRP's ability to discharge their duties under the IBC is

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**Interpretation:** Section 60(5) is interpreted to provide the NCLT with broad powers to ensure

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**Application:** The court applied this interpretation to the facts, finding that the

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Ashok Velamur…
- **Respondents:** R.A Samy Trading…; Arugmuga…
- **Advocates:** Vidyalakshm…

## Timeline

- **2019-04-30 — Case Adm…**: The case was admitted initiating the…
- **2019-05-04 — IRP Met Res…**: The IRP/Applicant met the Promoter Director/Respondent (Mr. R. Arumugasamy) seeking…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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