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TMI Blog2018 (6) TMI 842X X X X Extracts X X X X X X X X Extracts X X X X ..... gement to deny any information prior to two years. This provision is couched in the language which requires performance of duties by interim resolution professional / resolution professional. It does not clothe the Ex-Directors with a right to withhold information beyond period of two years. Therefore, the attempt to escape from furnishing of information is wholly against the letter and spirit of the provisions of the Code. We have distinct impression that all this is being done to avoid furnishing of vital information necessary for CIR process. Sometime people think that attack is the best defence as has been done here. The allegations against the resolution professional are bald and lack substance. There is no supporting material to consi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... termination of the lease agreement by the corporate debtor and details of plantation of crops etc. were sought. However, no exact information as required was provided. The aforesaid information is extremely necessary as the corporate debtor has secured the financial facilities from the creditors on the pretext of plantation of the poplar trees. The allegation against the corporate debtor is that the crops were uprooted without seeking prior approval from the Bank; and no particulars of such uprootment and other particulars regarding the land which was taken on lease, have been provided. The resolution professional had put a specific agenda in that regard before the COC. 2. In the meeting of COC held on 03.02.2018 (Annexure A-4), the rep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essional is alleged to be withholding with mala fide intention. It is stated that letters dated 17.09.2015, 03.10.2015 and 06.11.2015 (Annexure R-2 to R-4 of diary No.1408, dated 03.05.2018) have already been handed over to the resolution professional. Similar averments have been made with regard to many other such things. 6. The non-applicant-respondent further state that Ex-Directors were asked to submit the details on the letter head of the Corporate Debtor duly signed by the suspended Board of Directors which is not possible for them to do. It is also stated that the requisite record can be seen at House No.22422, Bhagu Road, Bhatinda and it has been made known to the resolution professional in the letter dated 07.02.2018. Reliance h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion to the interim resolution professional as may be required by him in managing the affairs of the corporate debtor. ( 2) Where any personnel of the corporate debtor, its promoter or any other person required to assist or cooperate with the interim resolution professional does not assist or cooperate, the interim resolution professional may make an application to the Adjudicating Authority for necessary directions. ( 3) The Adjudicating Authority, on receiving an application under sub-section (2), shall by an order, direct such personnel or other person to comply with the instructions of the resolution professional and to cooperate with him in collection of information and management of the corporate debtor. 8. The afo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ful perusal of Section 18 (1) (a) would show that as a part of his duty, the interim resolution professional is to collect all information relating to assets, finances and operations of the corporate debtor for determining its financial position, which may include information relating to business operations, land, financial and operational payments. The use of word includes suggest that it is illustrative and is capable of bringing within its sweep collection of information by RP beyond two years. By no stretch of imagination, it restricts the right of the resolution professional / interim resolution professional to collect information relating to the assets, finances and operations of the corporate debtor for a period of two years only ..... X X X X Extracts X X X X X X X X Extracts X X X X
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