# In the matter of Gupta Marriage Halls Pvt. Ltd. CA-871-2019 in IB-979-(ND)-2019

> NCLT judgment dated 2022-03-02. Citation: TCN-2022-NCLT-03927. The case involves an application (CA-871/2019) within an insolvency proceeding…

- **Court:** NCLT
- **Order date:** 2 Mar 2022
- **Citation:** TCN-2022-NCLT-03927
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gupta-marriage-halls-pvt-ltd-ca-871-2019-in-ib-979-nd-2019-a7d772f1

## Summary

### Background

The case involves an application (CA-871/2019) within an insolvency proceeding (IB-979/(ND)/2019) under Section 7 of the IBC code 2016. The ex-management of the Corporate Debtor was directed to provide tally data to the Resolution Professional (RP), now succeeded by the Liquidator, regarding the Corporate Debtor's operations. The Respondents (Nos. 1 & 2) failed to comply with this order for two years. They claimed that the tally data was stolen when a macbook computer was stolen in January 2019, and a police complaint was filed. However, the balance sheet for the year ending 2018-19 was signed by the Ex-Director on 15.05.2019, contradicting the claim that the data was stolen on 04.01.2019.

## Facts

Punjab National Bank initiated insolvency proceedings against M/s. Gupta Marriage Halls Pvt. Ltd. The ex-management of Gupta Marriage Halls Pvt. Ltd. was directed to provide tally data to the Resolution Professional (RP), who was later succeeded by the Liquidator. The Respondents (Nos. 1 & 2), representing the ex-management, failed to comply with this order for two years. The Respondents claimed that the tally data was stolen when a macbook computer was stolen in January 2019, and a police complaint was filed on 04.01.2019. However, the balance sheet for the year ending 2018-19 was signed by the Ex-Director on 15.05.2019. This fact is crucial because it contradicts the Respondents' claim that the tally data was unavailable due to the theft. The Liquidator is

…

## Issues and analysis

### Issue 1: Whether the ex-management of the Corporate Debtor failed to comply with the order to provide tally …

**Ratio:** Section 34(3) of the IBC and Regulation 9 of the IBBI (Liquidation Process) Regulations

…

**Reasoning:** The Tribunal observed that the ex-management had not provided the tally data as directed

…

**Interpretation:** These provisions ensure the smooth functioning of the liquidation process by

…

**Application:** The ex-management's failure to provide the tally data directly contravenes

…

## Parties

- **Judges:** BACHU VENKAT…; Narender Kumar…
- **Appellants:** Punjab National…
- **Respondents:** M/s. Gupta…

## Timeline

- **2020-03-03 — Order to Provide Tally…**: The ex-management was directed to provide tally data with respect to working of the…
- **2019-01-01 — Alleged Theft o…**: Respondents claimed that the macbook containing the tally data of the Corporate Debtor…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gupta-marriage-halls-pvt-ltd-ca-871-2019-in-ib-979-nd-2019-a7d772f1