2021 (6) TMI 90 - Tri - Insolvency and Bankruptcy

Requiring physical appearance of Director of the Corporate Debtor for Recording statement in CIRP - Mistaken of identity on the part of the Police Officials in producing him before this Tribunal - HELD THAT - The statement made by said Mr. A.M. Farook and his representations today cannot be accepted as the IDs which have been produced today are also correlated with the earlier IDs produced before this Tribunal the Photostat copies of which are available on record which are duly signed by the person concerned - Mr. A.M. Farook, who is present today is responsible for production of documents as sought by the Applicant/IRP in the Application which has been filed under Section 19 (2) and 19 (3) of IBC, 2016. Let the same be produced to the IRP by Mr. A.M. Farook within a period of 15 days from today.

Summary

Issues: Identification of the correct individual before the Tribunal, Compliance with document production orders under IBC, 2016

In the judgment delivered by the National Company Law Tribunal, Chennai Bench, the issue of identifying the correct individual before the Tribunal was addressed. The Tribunal noted that Mr. A.M. Farook, who was present, had been previously directed to produce specific documents under Section 19(2) and 19(3) of the Insolvency and Bankruptcy Code, 2016 (IBC). Despite claims by the Respondent's counsel that Mr. Farook was not the relevant person, the Tribunal found that the identification documents produced by Mr. Farook matched those submitted earlier, leading to a conclusion that he was indeed the individual concerned. The Tribunal emphasized the importance of compliance with its orders and directed Mr. Farook to produce the required documents within 15 days, including audited financial statements, bank statements, Tally data, and vouchers. Additionally, Mr. Farook was instructed to provide documents related to the company's incorporation and its latest annual returns within the same timeframe.

Furthermore, the Tribunal referenced an earlier order from 2019 directing Mr. Farook to produce specific documents, indicating a history of non-compliance. The Tribunal made it clear that Mr. Farook's physical presence at all future hearings was mandatory until expressly discharged. The judgment highlighted the significance of accurate identification and compliance with document production requirements under the IBC. The Tribunal's decision to hold Mr. Farook accountable for fulfilling the document production obligations demonstrates the strict approach taken to ensure adherence to legal directives and the efficient resolution of insolvency proceedings. The matter was scheduled for compliance review on 03.05.2021, emphasizing the importance of timely and accurate submission of the requested documents for the effective administration of the insolvency process.