9911796707
TMI Blog2022 (3) TMI 994X X X X Extracts X X X X X X X X Extracts X X X X ..... ort before this Tribunal stating what transpired in the meeting. As per the direction, the meeting was convened on 04.08.2021. In the meeting counsel for both the Respondents and Applicant have suggested the Suspended Directors visit to the factory and sit with the Resolution Professional, to provide the necessary assistance to the Resolution Professional. However, one of the suspended Directors informed that as his father is not well and he was attending the meeting from Hospital at Calicut, Kerala traveling from there to the factory premises cost him additional expenses. The defence of the Respondents is that, they have already handed over the documents to the Interim Resolution Professional and that since their part of the job is already completed, no further assistance to the Resolution Professional is required. Upon the direction of this Tribunal, a meeting was conducted in which the counsel for both the parties suggested the ex-management to visit the premises of the Corporate Debtor to provide further assistance. However, the Respondents were unwilling to go to the premises to provide any assistance; instead, they have sent an e-mail providing certain documents. If the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b. To provide the accurate details of debtors against whom the Corporate Debtor advanced money and supplied goods as required by RP; c. To furnish all required information relating to ECGC claim; d. To furnish all required information for filing DGFT claim; e. To assist the RP in the identification of machineries and reconcile the same with the invoices; f. To assist the RP in complying with all statutory requirements; g. To provide all other assistance and cooperation required by the RP during the CIRP Process; 2. It is stated that during the CIRP, applicant had sent emails to Respondent No.1 to provide the documents but 1st Respondent replied that all the documents were already handed over to the IRP. It is also stated that all the files from the file sections were marked and some are brought to the office of the RP. 3. It is also stated that the RP could not update details of machinery with the date of purchase with the SEZ authorities. Respondents are the only persons who are aware of the details of machinery and invoices pertaining to the same. After several requests the 1st Respondent provided some information on the machinery however, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the debtors of the Corporate Debtor were already provided by the Corporate Debtor which is evident from the Minutes of the 5th and 6th CoC meetings. Further, it is stated that letters have been issued to all major debtors and have possession of all the documents /records the purpose of the requirement of details is not necessary. The Resolution Professional has secured orders from the Adjudicating Authority directing the debtors of the Corporate Debtor to make payments of dues to the Corporate Debtor. They contended that requiring details of all debtors at this stage of CIRP is absolutely vexatious and abuse of the timelines provided under the I B Code. 8. The ECGC claim details and documents have already been provided. Further, the Applicant / Resolution Professional vide e-mail dated 09th November 2020, had stated that a letter was sent to ECGC, on 21st September 2020 intimating the declaration of delayed payments and requested them to issue a claim form for preferring the claim. Copy of the letter along with details of the shipment, Invoice Nos. and amount etc., submitted to ECGC is attached in Annexure I. Further to the continuous follow up on daily basis by Mr. V. Senthil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r and the same is reflected in Para no.2 (i) 9th COC Meeting Minutes dated 9thApril 2021, which read as follows: Mr. Shameel identified the machinery of Kanooz when he visited the factory on 01stMarch 2021. However, RP could not match the machinery identified as that of Kanooz as there is no Machine No. in the invoice of M/s. Kanooz. Mr. Shameel stated that on his inquiry during his visit to Sri City on 01st Match 2021 if any other information is required from his side, RP stated that no more information is needed . 11. The applicant filed a rejoinder and stated that despite giving undertaking before this Tribunal Respondents continued their non-co-operation and not provided the required documents. The applicant sent a letter to the Respondents on 11th June 2021 seeking certain details. But no response from the respondents to date. The applicant has received a Resolution Plan from the Prospective Resolution Applicant and the same is at the final stage of the process. 12. The amounts are recoverable from the debtors from a foreign jurisdiction and complete details of debtors are not available. The applicant has engaged a forensic auditor to examine the avoidable transact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ey should have arranged some other persons to make means to make necessary arrangements for carrying out the functions of the Resolution Professional. 16. Section 19 of the Code provides the Resolution Professional to take recourse to the courts, on grounds of non-cooperation by the Corporate Debtor. Section 19 of the I B Code,2016 is as under: - 19. (1) The personnel of the Corporate Debtor, its promoters or any other person associated with the management of the Corporate Debtor shall extend all assistance and cooperation to the interim resolution professional as may be required by him in managing the affairs of the Corporate Debtor. (2) Where any personnel of the Corporate Debtor, its promoter or any other person required to assist or cooperate with the interim resolution professional does not assist or cooperate, the interim resolution professional may make an application to the Adjudicating Authority for necessary directions. (3) The Adjudicating Authority, on receiving an application under sub-section (2), shall by an order, direct such personnel or other person to comply with the instructions of the resolution professional and cooperate with him in collecti ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
