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TMI Blog2018 (12) TMI 1989X X X X Extracts X X X X X X X X Extracts X X X X ..... i Infrastructure Private Limited and Neelkanth Palm Realty Private Limited to trace out if any of the records of the Corporate Debtor are available therein or records as mentioned in the Chart given. If any of the record of the Subsidiary Company related with the Corporate Debtor as recorded in the chart aforesaid is traced, the Appellant will hand over the copies of same to the Resolution Professional/ Liquidator. It is made clear that the Resolution Professional/ Liquidator has no jurisdiction to take over any asset of the subsidiary company of the Corporate Debtor including Urban Rupi Infrastructure Private Limited and Neelkanth Palm Realty Private Limited , therefore, the Resolution Professional cannot take the original documents availa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me, R1 is hereby directed to furnish the documents that this applicant has sought in the e-mail dated 02.04.2018, which is annexed as Exhibit R to this application within 7 days hereof, failing which this Applicant is at liberty to approach this Bench for further directions. 2. Learned counsel appearing on behalf of the Resolution Professional in reply affidavit dated 18th September, 2018 brought on record the a Chart to suggest the documents required by the Resolution Professional and the documents already provided by the Appellant, also showing why Resolution Professional requires those items. The chart is extracted below:- S.no. Documents required by the RP Documents provided to the RP Reason as to why the RP requires them A) Advances ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 21st February 2018 has called upon Lighthouse Developers to confirm the outstanding amount due and payable by it to the Corporate Debtor as well as for certain supporting documents to be provided to the RP for the same. Till date, No Response has been received from Lighthouse Developers Private Limited. B) Advances made to Bhagirathi Padte, Levi Bonkar, Mahesh Raukar, Manisha Korde, Prashant Garud and Sunder Padte 1. Ledger Copies of each advance made to the aforesaid individuals, from the date of advance till date The advances made by the Corporate Debtor to the said persons pertains to a period much prior to the period for which documents were handed over by the Mr. Bhavik Bhimjyani to the RP. No. Documents/explanation has been provided ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ebtor for purchasing the said lands. No Documents pertaining to the WHOLLY OWNED subsidiaries have The Wholly owned subsidiaries of the Corporate Debtor hold assets acquired directly through the funds received and raised by its Parent Company, i.e. the Corporate Debtor, from the Financial Creditor. In order, to safeguard the assets of the Corporate Debtor, it is imperative that the RP takes over the control of the wholly owned subsidiaries of the Corporate Debtor. 2. Filings made with the ROC during the last 2 financial years. 3. Minutes of the Board Meetings held in the last two years and minutes of the Annual General Meeting held 4. Signed Financial Statement for the last 3 years 5. Trial Balance as on date 6. Original Land Records 7. Ban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ents relates to subsidiaries Urban Rupi Infrastructure Private Limited and Neelkanth Palm Realty Private Limited , learned senior counsel appearing on behalf of the Appellant submitted that the Appellant will provide all the documents. However, he submits that thought the Resolution Professional may take the copies of the records of the flats but cannot take over the subsidiaries in question without any direction of a court of competent jurisdiction or Adjudicating Authority. 6. Learned senior counsel appearing on behalf of the Resolution Professional submits that the Corporate Debtor has been ordered for liquidation and now the Resolution Professional is functioning as Liquidator. He intends to protect all the assets of the Corporate Debto ..... X X X X Extracts X X X X X X X X Extracts X X X X
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