The Resolution Professional (RP) filed an application seeking directions against the ex-director/respondent no. 1, Mr. Vikas Bansal, to provide necessary information, records, and documents, as well as cooperation to the RP to fulfill his duties and obligations according to the Committee of Creditors (CoC). The applicant claims that respondent no. 1, representing the promoter/directors, attended all CoC meetings but failed to provide property documents and financial statements. The first respondent filed a response stating that since the third director is not present, the balance sheets could not be signed, preventing the provision of financial statements to the RP. Regarding property documents, the respondent stated that the factory is not under his control,
…The Resolution Professional (RP) filed an application seeking directions against Mr. Vikas Bansal, the ex-director/respondent no. 1, to provide necessary information, records, and documents. The applicant claims that respondent no. 1, representing the promoter/directors, attended all CoC meetings but failed to provide property documents and financial statements. The first respondent filed a response stating that since the third director is not present, the balance sheets could not be signed, preventing the provision of financial statements to the RP. Regarding property documents, the respondent stated that the factory is not under his control, preventing him from providing the documents. The court noted that the directors of the company are obligated to keep the books
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Order delive…
The Resolution Professional (RP) filed an application seeking directions against the ex-director/respondent no. 1, Mr. Vikas Bansal, to provide necessary information, records, and documents, as well as cooperation to the RP to fulfill his duties and obligations according to the Committee of Creditors (CoC). The applicant claims that respondent no. 1, representing the promoter/directors, attended all CoC meetings but failed to provide property documents and financial statements. The first respondent filed a response stating that since the third director is not present, the balance sheets could not be signed, preventing the provision of financial statements to the RP. Regarding property documents, the respondent stated that the factory is not under his control,
…The Resolution Professional (RP) filed an application seeking directions against Mr. Vikas Bansal, the ex-director/respondent no. 1, to provide necessary information, records, and documents. The applicant claims that respondent no. 1, representing the promoter/directors, attended all CoC meetings but failed to provide property documents and financial statements. The first respondent filed a response stating that since the third director is not present, the balance sheets could not be signed, preventing the provision of financial statements to the RP. Regarding property documents, the respondent stated that the factory is not under his control, preventing him from providing the documents. The court noted that the directors of the company are obligated to keep the books
…Order delive…