# In the matter of Trimurti Convast Private Limited I.A 204 & 228-2020 in CP No. (IB) 355-ALD-2019

> NCLT judgment dated 2021-08-11. Citation: TCN-2021-NCLT-01373. The case involves applications (I.A No. 204/2020 and IA No. 228/2020 in CP (IB) No.…

- **Court:** NCLT
- **Order date:** 11 Aug 2021
- **Citation:** TCN-2021-NCLT-01373
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/trimurti-convast-private-limited-ia-204-228-2020-in-cp-no-ib-355-ald-2019-3e3d8ab0

## Summary

### Background

The case involves applications (I.A No. 204/2020 and IA No. 228/2020 in CP (IB) No. 355/ALD/2019) filed under Section 19(2) & Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with rule 11 of the NCLT Rules, 2016. The applications seek directions to the Suspended Directors and Statutory Auditors of the Corporate Debtor to provide assistance, cooperation, and information to the Resolution Professional (RP) in discharging his duties and managing the affairs of the Corporate Debtor. The applications also seek directions for respondents to submit information in pursuance to the claim submitted by Financial Creditor-Respondent no.1. CIRP was initiated against Trimurti Concast Private Limited on 24.12.2019, and Mr. Sanjay Kumar Dewani was appointed as

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## Facts

The Resolution Professional (RP), Sumit Shukla, filed applications seeking directions to the Suspended Directors and Statutory Auditors of Trimurti Concast Private Limited to provide assistance, cooperation, and information required for the Corporate Insolvency Resolution Process (CIRP). CIRP was initiated against Trimurti Concast Private Limited on 24.12.2019. Sanjay Kumar Dewani was initially appointed as the Interim Resolution Professional (IRP), and later Sumit Shukla was confirmed as the RP on 05.05.2020. The RP contacted Respondent No.2 Shri Ashok Sharma and IRP Sanjay Kumar Dewani on 13th May, 2020, requesting documents and records pertaining to the corporate debtor. The RP also contacted the Statutory Auditors. The RP sent emails to the Respondents on various

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## Issues and analysis

### Issue 1: Whether the Suspended Directors and Statutory Auditors of the Corporate Debtor are obligated to …

**Ratio:** Section 19(1) of the IBC mandates that the personnel of the Corporate Debtor, its

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**Reasoning:** The court reasoned that the ex-management, collectively and independently, must furnish

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**Interpretation:** Section 19(1) imposes a statutory duty on the personnel of the Corporate Debtor

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**Application:** In this case, the Suspended Directors and Statutory Auditors failed to provide

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## Parties

- **Judges:** Rajesh Daya…
- **Appellants:** Sumit S…
- **Respondents:** Trimurti Concast…; Ram Alloy Casting…

## Timeline

- **2019-12-24 — CIRP Init…**: CIRP initiated against…
- **2020-05-05 — RP Appoin…**: Sumit Shukla confirmed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 19 — Personnel to extend co-operation to interim…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-19)

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