# In the matter of Zentora Overseas Careers Private Limited IA 448-2020 in CP (IB) 443-9-HDB-2019

> NCLT judgment dated 2020-08-13. Citation: TCN-2020-NCLT-00853. The case involves an application filed under Section 19(2) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 13 Aug 2020
- **Citation:** TCN-2020-NCLT-00853
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/zentora-overseas-careers-private-limited-ia-448-2020-in-cp-ib-443-9-hdb-2019-a3c8e112

## Summary

### Background

The case involves an application filed under Section 19(2) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional for M/s Zentora Overseas Careers Private Limited, seeking directions to Respondents 1-4 (ex-directors) to cooperate with the Interim Resolution Professional (IRP) and hand over the custody of the corporate debtor's records. The Corporate Insolvency Resolution Process (CIRP) was initiated against Zentora Overseas Careers Private Limited on 02.03.2020, after a petition filed under Section 7 of the Code by Walsons Services Private Limited/Financial Creditor was admitted. The IRP, Mr. Sridhar Venkatraya Sundararaja, was appointed.

## Facts

On 02.03.2020, the petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by M/s Walsons Services Private Limited/Financial Creditor was admitted, initiating the Corporate Insolvency Resolution Process (CIRP) against M/s Zentora Overseas Careers Private Limited. Mr. Sridhar Venkatraya Sundararaja was appointed as the Interim Resolution Professional (IRP). After assuming charge, the IRP visited the registered office of the Corporate Debtor and found it occupied by another entity named “careeroverseas.com”. The ex-Director (Respondent No.1) handed over the admission order but informed the IRP that the Corporate Debtor did not exist at that address, and the IRP was served a legal notice for trespassing. The custody of assets and accounting records has

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## Issues and analysis

### Issue 1: Whether the ex-directors of the Corporate Debtor are obligated to cooperate with the Interim …

**Ratio:** Section 19 of the Insolvency and Bankruptcy Code, 2016, casts an obligation on the

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**Reasoning:** The Adjudicating Authority reasoned that the aforesaid provision makes it abundantly

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**Interpretation:** Section 19 of the IBC is interpreted to mean that the ex-management of a

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**Application:** In this case, the ex-directors (Respondents 1-4) were directed to cooperate

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## Parties

- **Judges:** Ratakonda…; Ratakonda…
- **Appellants:** Sridhar Venkataray…
- **Respondents:** Zentora Overseas…; Singireddy Bharat…

## Timeline

- **2020-03-02 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP) commenced against Corporate Debtor/ M/s…
- **2020-08-06 — Hearing…**: Hearing held on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 19(2) — Personnel to extend co-operation to interim…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-19)

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