# In the matter of Minesh Prints Limited

> NCLT judgment dated 2024-01-03. Citation: TCN-2024-NCLT-03328. This is an application (I.A. 87/2021) filed by the Resolution Professional (RP) of Minesh…

- **Court:** NCLT
- **Order date:** 3 Jan 2024
- **Citation:** TCN-2024-NCLT-03328
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/minesh-prints-limited-969f8116

## Summary

### Background

This is an application (I.A. 87/2021) filed by the Resolution Professional (RP) of Minesh Prints Limited, the Corporate Debtor, against the Respondents, including the Suspended Directors and sundry debtors. The RP seeks directions from the NCLT to compel the Respondents to cooperate in the recovery of outstanding dues owed to the Corporate Debtor. The CIRP was initiated pursuant to an application filed by the Corporate Debtor's Suspended Board under Section 10 of the Insolvency & Bankruptcy Code, 2016. The RP argues that the non-cooperation of the Respondents is hindering the CIRP process.

## Facts

Minesh Prints Limited is undergoing Corporate Insolvency Resolution Process (CIRP). Mr. Mahesh Sureka is the Resolution Professional (RP). The RP filed an application (I.A. 87/2021) seeking directions for cooperation from the Suspended Directors (Respondents No. 1-4) and sundry debtors (Respondents No. 5-19) of Minesh Prints Limited to recover outstanding dues. The CIRP was initiated based on an application filed by the Corporate Debtor's Suspended Board under Section 10 of the Insolvency & Bankruptcy Code, 2016. The RP claims that the Respondents are not cooperating in the recovery of debts, hindering the CIRP process. The outstanding dues from sundry debtors have been pending since June 2017. The Respondents No. 2, 3, and 4 filed a joint reply stating that the

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## Issues and analysis

### Issue 1: Whether the present application seeking reliefs …

**Ratio:** The Tribunal has the jurisdiction to ensure the smooth functioning of the CIRP and to

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**Reasoning:** The NCLT reasoned that it is within its purview to ensure that the CIRP process is

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**Interpretation:** The Tribunal interprets its powers under the IBC to include the ability to

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**Application:** The Tribunal found that it had the power to direct the sundry debtors to

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## Parties

- **Judges:** Prabhat…; V.G. B…
- **Appellants:** Mahesh S…
- **Respondents:** Minesh Prints…

## Timeline

- **2019-01-01 — C.P.(IB)…**: C.P.(IB) No. 4461/MB/201…
- **2020-03-04 — Appointment…**: The Applicant was appointed as the Interim Resolution Professional of Minesh Prints…

## 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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