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TMI Blog2019 (10) TMI 107X X X X Extracts X X X X X X X X Extracts X X X X ..... /Directors is essentially required by the Resolution Professional and the Creditors to work out the Information Memorandum so that a viable Resolution Plan is received, the same may be placed before the CoC for taking appropriate decision. In case, the Directors appointed in the General Meeting are not allowed to be part of the CoC, it will certainly hamper the CIR Process and the very object of the CIR Process will get defeated. The Resolution Professional is directed to allow the Applicants viz., Mr. Kothanda Raman Sivakumar and Mr. Sathyamurthy Balaji Sreedhar to attend the meetings of the CoC, who shall provide every kind of information to the Resolution Professional including the books of account, financials and assets of the Corpo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss such further or other orders as deemed fit and proper in the circumstances of the case and thus render justice. 3. Heard the Representative for the Applicants, the Resolution Professional and perused the records placed on file. 4. The Representative for the Applicants drew the attention of this Bench to the Extra-ordinary General Meeting (EoGM) of the Company held on 17.08.2018, copy of which is placed at pages 40 to 62 of the typed set filed with the Application, in which the Applicants viz., Mr. Kothanda Raman Sivakumar and Mr. Sathyamurthy Balaji Sreedhar were appointed as Directors of the Company, who were to retire by rotation. 5. In the said EoGM, out of the five members, four members w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wever, in the same breath, he has submitted that the Applicants are very much concerned with the business of the Corporate Debtor, possessing necessary information pertaining to its business and their co-operation is very much required by him. 8. In reply, the Representative for the Applicants, without the loss of time, has submitted that if the Application is allowed and they are made part of the CoC, all the relevant information including the books of account, receivables, detail of the financial and assets of the Corporate Debtor will be provided, as they are bound to co-operate with the Resolution Professional. 9. It is worthwhile to record that in relation to the in-house business of a Company, it is the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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