9911796707
TMI Blog2019 (7) TMI 1483X X X X Extracts X X X X X X X X Extracts X X X X ..... its causing loss to Corporate Debtor and also to protect the assets of the Corporate Debtor. Unless the State Machinery takes active steps in providing appropriate assistance to the Resolution Professional, it is difficult for him to discharge the functions of Resolution Professional so as to hold the value of the asset intact - this Bench hereby suggests the District Collector of Kanchipuram to take cognizance of the incidents happened at the factory premises by verifying the report placed by the Resolution Professional and provide necessary assistance to the Resolution Professional as contemplated under Section 429 r/w regulation 30 of CIRP Regulations, 2016. Application allowed. - MA/486/2019 in IBA/128/2019 - - - Dated:- 22-5-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Chief Manager and two other recovery agents of the Bank rushed to inspect the factory premises of the Corporate Debtor, whereat they noticed that about seven persons were on the job of beating down the equipment, machinery and structure of the production facility into scrap with tools, acetylene torches, gas cutters and finally lifted the material from the factory site. In support of this statement the officers visited the factory premises placed copies of the photos, by seeing them it appears somebody were handling the machinery. 4. On their enquiry, one of the men out of the people working on breaking the machinery into scrap, namely Mr. Sathya with Mobile No: +919962466314 stated that they were engaged by one man namely M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pen by the Promoter-Directors of the Company, which resulted into commencement of theft on various dates. The Resolution Professional has placed the below table disclosing on how many occasions FIRs were given to the police to take action. The table below shows as how many times reports were given to the police regarding this issue. S. No. Date FIR No. 1 26.05.2018 264 of 2018 2 25.06.2018 334 of 2018 3 18 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor and also to protect the assets of the Corporate Debtor. 11. For doing so, it is obvious that unless the State Machinery takes active steps in providing appropriate assistance to the Resolution Professional, it is difficult for him to discharge the functions of Resolution Professional so as to hold the value of the asset intact, thereby this Bench hereby suggests the District Collector of Kanchipuram to take cognizance of the incidents happened at the factory premises by verifying the report placed by the Resolution Professional and provide necessary assistance to the Resolution Professional as contemplated under Section 429 r/w regulation 30 of CIRP Regulations, 2016. Likewise, the Respondent herein is hereby directed for ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
