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Judgment
IA(I.B.C)/967(CH)2026
The present Application has been filed by the IRP under Section 19(2) of the IBC, 2016.
We have heard, Ld. Counsel Mr. Avnish Singh appearing for the Applicant-IRP. He submits that the registered office of the Corporate Debtor as recorded in the MCA does not exist at the address shown therein and that the Suspended Directors/Erstwhile Key Manger of the Corporate Debtor (CD) who are Respondents No.1 and 2 herein are not cooperating and providing the IRP, the books of accounts, statutory registers, records and documents of the CD and are also not disclosing the present location of the assets, books etc. for the purposes of proceedings under the IBC.
The Ld. Counsel also submits that the Corporate Debtor (CD) has been engaged in providing the Toll Management System to the concessioners in the Road Highway Projects and that in turn it had sub-contracted the work to the Operational Creditor (OC) on whose Application, the CD has been admitted under Section 9 of the IBC.
We have considered the submissions so made by the Ld. Counsel, we direct the Respondents to extend the cooperation and provide the financial books and documents of the CD forthwith to the IRP so that the proceedings under IBC could be completed within the specified time limit.
The non-cooperation in this regard by the Respondents-Suspended Directors/Erstwhile Key Management shall be construed as if they are putting obstruction to the IBC proceedings.
We also direct the Respondents to file a reply of this Application within two weeks with a copy in advance to the counsel opposite and also make a physical appearance before this Court. The Applicant-IRP is directed to send a copy of this order upon each of the Respondents.
With this, list the matter for further consideration on 19.08.2026.
IA(I.B.C)/969(CH)2026
The present Application has been filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Regulation 17(1) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016 seeking to place on record the report of Constitution of Committee in CP(IB) No.146/Chd/Hry/2024. The same is taken on record and subject to just exceptions.
Accordingly, IA(I.B.C)/969(CH)2026, stands disposed of.