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TMI Blog2021 (9) TMI 744X X X X Extracts X X X X X X X X Extracts X X X X ..... t he also has to pursue the application diligently, which has not been done in the present case. Although a provision for filing of application against the non-cooperating members has been provided for in the Code, the same shall not be resorted to unless the professional has discharged his duties proactively and diligently. The duty cast upon the IRP and the RP under sections 18 and 25 of the Code are not empty formalities that the professionals have to discharge just for the sake of doing it. Section 25(2) provides, inter alia, for the RP to take custody and control of all the assets of the Corporate Debtor, including the business records of the Corporate Debtor. In the present case, all that the RP has done is contact the member of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st to form an opinion under regulation 35A of Insolvency and Bankruptcy Board of India (Corporate Insolvency Resolution for Corporate Persons) Regulations, 2016 ( CIRP Regulations ). 3. Due to the non-availability of information and books of accounts of the Corporate Debtor, the RP is unable to form an opinion and come to a determination under the said regulation. Therefore, on the suggestion of the CoC, the RP has filed the present application praying for exclusion of period starting on the date of commencement of CIRP till the availability of books of Accounts and details from the Corporate Debtor, so that the RP gets sufficient time to form an opinion and determination under the said regulation. 4. We have heard the learned counsel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... il and speed post, however they have failed to provide the possession of assets, books of accounts and other required details to the RP. It was, therefore, not possible for the RP to form an opinion. Learned counsel further submits that an application under section 19(2) has been filed by the RP before the Adjudicating Authority on 23.03.2021. 8. Section 19 provides for the personnel of the Corporate Debtor to cooperate with the interim resolution professional and if they do not cooperate, an application may be preferred under sub-section (2) thereof. Although the application under section 19(2) has been filed in the present case, it has not been pressed for hearing so far. Filing an application does not absolve the RP of his duties ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Corporate Debtor. 11. Coming back to the point of exclusion, although a discretion has been provided to the Adjudicating Authority to enlarge the time for completion of CIRP, the discretion is to be used sparingly and judiciously in cases where the Applicant demonstrates that the Corporate Debtor is only a few days short of achieving a resolution by way of a resolution plan and that it would be in the interest of all stakeholders that the Corporate Debtor be put back on its feet instead of being sent into liquidation. Committee of Creditors of Essar Steel India Limited v. Satish Kumar Gupta and Ors., 2019 (16) SCALE 319 12. In the matter at hand, however, it is not the case of the Applicant that the Corporate Debtor is on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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