The Resolution Professional (RP) filed an application against the Suspended Directors of Temple Leasing and Finance Limited (Corporate Debtor or CD), alleging that they made an investment of Rs. 28,50,000/- in equity shares of Unno Industries Limited and Jayant Mercantile Company Limited without exercising due diligence. The RP contended that these transactions were imprudent and that the directors are liable to contribute this amount to the CD's assets under Section 66 of the Insolvency and Bankruptcy Code, 2016. The Transaction Auditor, M/s APT & Co. LLP, appointed by the RP, audited the CD's financial records from April 1, 2016, to June 25, 2021. The audit revealed that the Suspended Directors invested in equity shares that were not actively traded.

The Resolution Professional (RP) filed an application against the Suspended Directors of Temple Leasing and Finance Limited (Corporate Debtor or CD), alleging that they made an investment of Rs. 28,50,000/- in equity shares of Unno Industries Limited and Jayant Mercantile Company Limited without exercising due diligence. The RP contended that these transactions were imprudent and that the directors are liable to contribute this amount to the CD's assets under Section 66 of the Insolvency and Bankruptcy Code, 2016. The Transaction Auditor, M/s APT & Co. LLP, appointed by the RP, audited the CD's financial records from April 1, 2016, to June 25, 2021. The audit revealed that the Suspended Directors invested in equity shares that were not actively traded.