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TMI Blog2021 (1) TMI 570X X X X Extracts X X X X X X X X Extracts X X X X ..... lleging non-cooperation by the directors of the suspended board, and the statutory auditor of the Corporate Debtor (CD), with the Resolution Professional. 2. This application was filed requesting for urgent hearing in the matter since there has been much delay due to the country wide lockdown in the pandemic situation. Having been satisfied with the grounds of the appeal and the urgency, the application is admitted and listed for hearing on today (13.07.2020). 3. Heard both sides. Except R5 all others represented and R1 has submitted written notes of defence. 4. Corporate Debtor M/s. R.P. Info Systems Limited is undergoing CIRP vide order dated 4th February, 2020. Ms. Ramanathan Bhuvaneshwari was appointed Interim Resolution Professional ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... informed the current status of the company and that the Assets and vehicles of the Corporate Debtor are attached by the Enforcement Directorate with directions to not sell or transfer the same pursuant to an order dated 11th September 2018 passed by the Adjudicating Authority under the Prevention of Money Laundering Act, 2002 (hereinafter referred to as 'the PMLA'). However, on an Appeal before the Appellate Tribunal, filed under Section 26 of the PMLA, the Appellate Tribunal vide order dated 17th October 2018 passed an interim order of status quo which then stood extended from time to time. A copy of the order dated 17th October 2018 passed by the Appellate Tribunal under the PMLA is annexed as Annexure 'K' to the applicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able Assets and vehicles, documents as well as other records pertaining to the Corporate Debtor are all retained with the Respondents without any legitimate excuse. The respondents are responsible for delaying the progress of CIRP even if works of all are disrupted due to Covid-19 pandemic. Only because the RP can exclude the unutilised period from the timeline to be completed by her, due to lockdown issued by the respective Government, it doesn't mean that the respondents can cause deliberate delay in handing over the information, documents, assets of the CD and books of account which are essential for continuing the CIRP. 9. Having heard the submissions made by Ld. Counsel for the Resolution Professional and the Ld. Counsel for the r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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