9911796707
TMI Blog2020 (10) TMI 267X X X X Extracts X X X X X X X X Extracts X X X X ..... Companies Act. The allegations made when proved may entail punishment and/or fine. Therefore, this Authority would not be in a position to make any comment or give any finding on the allegations made in the Application. Application rejected. - IA No. 44 of 2020 in TCP (IB) No. 101/7/AMR/2019 and CP (IB) No. 320/7/HDB/2019 - - - Dated:- 28-2-2020 - Janab Mohammed Ajmal , Member ( J ) For the Applicant : Sivanagaraja Taduavai, Resolution Professional ORDER Janab Mohammed Ajmal, Member (J) 1. This is an Application filed by the Resolution Professional seeking certain directions. 2. The brief facts leading to the Application may be started as follows. The Company Petition brought in by a Financial Creditor was admitte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ture of the auditor thereupon. The Registered Office of the Company as per the records of the Registrar of Companies was a leased premises which apparently had long since been handed over to the owner. The other directors namely Mr. K. Murali and Mr. Rebba Satish did not respond to entreaties by the applicant nor attended the meeting of the Committee of Creditors (CoC) . The Corporate Debtor entered into an agreement with one M/s. Sun Bitess on 10.04.2019 for a period of two years to process and sell the finished products/goods and make certain payments there-against to the Corporate Debtor. The agreement was entered into with the intention to defraud the creditors. The action of the promoters of the Corporate Debtor reeks of malafides and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 236(2) provides that no Court shall cognizance of the offence punishable under the Code save on a complaint made by the Board (IBBI) or the Central Government or any person authorised by the Central Government in this behalf. Similar provision is also enshrined under Section 439 of the Companies Act. The allegations made when proved may entail punishment and/or fine. Therefore, this Authority would not be in a position to make any comment or give any finding on the allegations made in the Application. No direction can be given as per prayer (b) without any specifics. Hence ordered. The Application be and the same is rejected without contest. The Applicant is directed to take appropriate action under law as provided in the Code an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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