CourtKutchehry.com
Tribunals and CommissionsSingle Bench(2022) 07 NCLT CK 0594

Mr. Srinivas Gudla Rao vs Mr. Sriramineni Chandraprakash & Ors.

National Company Law Tribunal, Amaravati Bench · Decided on 8 July 2022

HON’BLE JUDGES
Justice Telaprolu Rajani, Member Judicial
RESULT
Allowed
CASE NUMBER
IA(IBC)/20/2022 in CP(IB) No.21/9/AMR/2020

CourtKutchehry membership

More clarity. Every judgment.

Download court copies, explore connected cases and make more of every research session.

Loading membership options…

CourtKutchehry membership

More clarity. Every judgment.

Download court copies, explore connected cases and make more of every research session.

Loading membership options…

Ask AI about this case

AI Structured Summary

Not yet generated for this judgment

Judgment

53 paragraphs · 739 words
1.

This Application is filed by the Resolution Professional (RP) who was appointed by virtue of the orders of this Tribunal dated 18.01.2022 in CP (IB) No.21/9/AMR/2020 for the purpose of initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. In this application, the RP seeks for a direction to the Respondents to furnish the documents mentioned in the Application which are as follows:

a)

All the Bank Account details of the Corporate Debtor and cheque book and bank statements for all financial years.

b)

Audited Balance sheet as of 31.03.2017, 31.03.2018, 31.03.2019, 31.03.2020 & 31.03.2021.

c)

Books of accounts of the Corporate Debtor in tally or any other package, or ledger & Registers maintained by Respondent since beginning to till 04.01.2022.

d)

Provisional financials from 01.04.2021 to 04.01.2022.

e)

Fixed Assets & Depreciation Register as on 04.01.2022, fixed assets schedules to the Balance Sheet.

f)

Stock Register (Quantitative Details & its value) as on 04.01.2022.

g)

All the land & properties in the name of the Corporate Debtor

h)

Purchase & Sales Register

i)

Purchase & sales invoice file

j)

Details of sundry debtors & sundry creditors

k)

Details of employees with their contact numbers

l)

Income tax files, IT returns & Income tax audit reports

m)

All the other records of the Corporate Debtor

n)

Records of any other cases pending against the Corporate Debtor if any

o)

All passwords & user-IDs for GST & IT

p)

PPF & EPF records

q)

GST/VAT return copies including notices and assessment orders and demand notice

r)

AGM records

s)

ROC records

t)

All legal matter files

u)

Loan agreements and register

v)

Rental agreements, if any

w)

Related party transactions details

x)

Latest audit reports including audited financial statements

y)

Communications/agreements/appoint letters of professionals/consultants.

2.

The Respondent Nos.1 and 3 filed counter contending that as per the request of the Resolution Professional (RP) they have furnished certain documents which are the audited balance sheet and Profit & Loss Account of Financial Years 2017-2018, 2018-2019, Form 26 to the Resolution Professional (RP) through their auditor. A copy of the mail, in evidence of the same, is also attached to the counter, which is dated 02.05.2022, by virtue of which the Resolution Professional (RP) was intimated about the submission of IT returns along with the financial of the form for two years i.e., 2018-2019 and 2019-2020. It is stated that the remaining books of account, register of purchase, sales details of sundry creditors, sundry debtor, stock register, fixed assets are with the 2nd Respondent. It is also stated that they have also addressed a letter to the 2nd Respondent requesting to provide the same to the Resolution Professional (RP). Notice was served to Respondents No.2 and 4, but they did not choose to appear before this Tribunal and resist the application.

3.

Hence, considering the above, the Application is allowed, directing the Respondent No.2 to furnish the following documents forthwith;

a)

All the Bank Account details of the Corporate Debtor and cheque book and bank statements for all financial years.

b)

Audited Balance sheet as of 31.03.2017, 31.03.2018, 31.03.2019, 31.03.2020 & 31.03.2021.

c)

Books of accounts of the Corporate Debtor in tally or any other package, or ledger & Registers maintained by Respondent since beginning to till 04.01.2022.

d)

Provisional financials from 01.04.2021 to 04.01.2022.

e)

Fixed Assets & Depreciation Register as on 04.01.2022, fixed assets schedules to the Balance Sheet.

f)

Stock Register (Quantitative Details & its value) as on 04.01.2022.

g)

All the land & properties in the name of the Corporate Debtor

h)

Purchase & Sales Register

i)

Purchase & sales invoice file

j)

Details of sundry debtors & sundry creditors

k)

Details of employees with their contact numbers

l)

Income tax files, IT returns & Income tax audit reports

m)

All the other records of the Corporate Debtor

n)

Records of any other cases pending against the Corporate Debtor if any

o)

All passwords & user-IDs for GST & IT

p)

PPF & EPF records

q)

GST/VAT return copies including notices and assessment orders and demand notice

r)

AGM records

s)

ROC records

t)

All legal matter files

u)

Loan agreements and register

v)

Rental agreements, if any

w)

Related party transactions details

x)

Latest audit reports including audited financial statements

y)

Communications/agreements/appoint letters of professionals/consultants; failing which he would be liable for contempt of the proceedings. Accordingly, I.A.No.20/2022 in CP (IB) No.21/9/AMR/2020 are disposed of.