The Resolution Professional filed an application under Section 19(2) read with 60(5) and Section 70 of the I&B Code, seeking directions to the Respondents (Suspended Board of Directors) to hand over necessary documents for the completion of the CIRP of the Corporate Debtor. The application also sought to extend cooperation with the Interim Resolution Professional/Resolution Professional in discharging statutory duties, issue orders under Section 70 of the Code, and prosecute the Respondents for misconduct in the CIRP by not providing/concealing information required for conducting CIRP and preparing the Information Memorandum.
The Resolution Professional (applicant) filed an application seeking directions to the Respondents (Suspended Board of Directors) to hand over requisite documents for the completion of the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor. The applicant had taken charge of the management of the Corporate Debtor following an order dated 03.02.2022 and had requested the respondents to cooperate in the CIRP and provide all necessary files, documents, and records. The applicant stated that the corporate debtor is undergoing CIRP by orders of the Adjudicating Authority dated 06.01.2021. Respondent No. 1 claimed to have resigned in 2019 and lacked access to the documents. Respondents No. 2 and 3 stated that Respondent No. 1 is the single largest
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Adjudicating Authority…
Mr. Anurag Sharma was…
The Resolution Professional filed an application under Section 19(2) read with 60(5) and Section 70 of the I&B Code, seeking directions to the Respondents (Suspended Board of Directors) to hand over necessary documents for the completion of the CIRP of the Corporate Debtor. The application also sought to extend cooperation with the Interim Resolution Professional/Resolution Professional in discharging statutory duties, issue orders under Section 70 of the Code, and prosecute the Respondents for misconduct in the CIRP by not providing/concealing information required for conducting CIRP and preparing the Information Memorandum.
The Resolution Professional (applicant) filed an application seeking directions to the Respondents (Suspended Board of Directors) to hand over requisite documents for the completion of the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor. The applicant had taken charge of the management of the Corporate Debtor following an order dated 03.02.2022 and had requested the respondents to cooperate in the CIRP and provide all necessary files, documents, and records. The applicant stated that the corporate debtor is undergoing CIRP by orders of the Adjudicating Authority dated 06.01.2021. Respondent No. 1 claimed to have resigned in 2019 and lacked access to the documents. Respondents No. 2 and 3 stated that Respondent No. 1 is the single largest
…Adjudicating Authority…
Mr. Anurag Sharma was…