The case involves an application filed by the Resolution Professional (RP) of Map Refoils India Limited under Section 19(2) read with Section 60 of the IB Code, 2016, seeking directions against the suspended Board of Management for non-cooperation. The RP claims to have taken all possible steps to ensure the Corporate Debtor functions as a going concern but faces difficulties due to the non-availability of data. The difficulties include verification of claims, preparation of information memorandum, identification of transactions, valuation of assets, and compliance with various laws.
The Resolution Professional (RP) of Map Refoils India Limited filed an application under Section 19(2) of the IB Code, 2016, seeking directions against the suspended Board of Management for non-cooperation. The RP claims that the suspended management is not providing necessary information and documents, hindering the corporate insolvency resolution process. The RP faces difficulties in verifying claims, preparing an information memorandum, identifying transactions, valuing assets, and complying with various laws. The respondents claim to have provided all available documents and that the office of the corporate debtor is inaccessible to them. They also state that certain data is unavailable due to damage to a hard disk. The respondents undertook to provide the
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The Resolution Professional (RP) of Map Refoils…
The respondents filed their reply stating that…
The case involves an application filed by the Resolution Professional (RP) of Map Refoils India Limited under Section 19(2) read with Section 60 of the IB Code, 2016, seeking directions against the suspended Board of Management for non-cooperation. The RP claims to have taken all possible steps to ensure the Corporate Debtor functions as a going concern but faces difficulties due to the non-availability of data. The difficulties include verification of claims, preparation of information memorandum, identification of transactions, valuation of assets, and compliance with various laws.
The Resolution Professional (RP) of Map Refoils India Limited filed an application under Section 19(2) of the IB Code, 2016, seeking directions against the suspended Board of Management for non-cooperation. The RP claims that the suspended management is not providing necessary information and documents, hindering the corporate insolvency resolution process. The RP faces difficulties in verifying claims, preparing an information memorandum, identifying transactions, valuing assets, and complying with various laws. The respondents claim to have provided all available documents and that the office of the corporate debtor is inaccessible to them. They also state that certain data is unavailable due to damage to a hard disk. The respondents undertook to provide the
…The Resolution Professional (RP) of Map Refoils…
The respondents filed their reply stating that…