Cognizance and summoning of accused - offences under the Insolvency and Bankruptcy Code (Sections 70, 73(b) and 19(1) read with Section 235A) - officer in default - failure to cooperate with Resolution Professional - concealment of assets and documents during Corporate Insolvency Resolution Process - dispensing with pre-summoning evidence under proviso to Section 200 CrPC - trial by Special Court constituted under the Companies Act - institution of complaint by authorized officer of IBBI under Section 236(2) of the CodeCognizance and summoning of accused - offences under the Insolvency and Bankruptcy Code (Sections 70, 73(b) and 19(1) read with Section 235A) - failure to cooperate with Resolution Professional - concealment of assets and documents during Corporate Insolvency Resolution Process - officer in default - Cognizance taken and accused summoned for alleged offences under the Insolvency and Bankruptcy Code arising from non-cooperation with the Resolution Professional and concealment of material facts/assets. - HELD THAT: - After considering the documentary evidence placed on record the Court was satisfied that prima facie offences under the Code had been committed by the accused. The complaint alleges that the accused, being directors/authorized signatory and thus officers in default of the corporate debtor, wilfully failed to provide books, financial statements, accounting data and concealed assets despite directions of the NCLT and requests from the Resolution Professional, and continued representations to homebuyers despite cancellation of the lease. On this basis the Court took cognizance and directed that all five accused be summoned to face prosecution for violation of the specified provisions of the Code.Cognizance is taken and the five accused are summoned to face prosecution; they are to be summoned on filing of process within 15 days and the matter listed for further proceedings.Dispensing with pre-summoning evidence under proviso to Section 200 CrPC - institution of complaint by authorized officer of IBBI under Section 236(2) of the Code - Pre-summoning evidence dispensed with because the complaint was instituted by a public servant in his official capacity and the complainant (IBBI) was duly authorised to file the complaint. - HELD THAT: - The complaint was instituted through the General Manager of IBBI, in whose favour an authorization letter empowered him to institute the complaint. Section 236(2) of the Code confers power on the complainant (IBBI) to set criminal law in motion through its authorized officer. As the complaint was made by a public servant in his official capacity, the proviso to Section 200 CrPC allows dispensation of pre-summoning evidence. The Court, therefore, dispensed with the pre-summoning evidence accordingly.Pre-summoning evidence is dispensed with and proceedings directed to issue summons to the accused.Trial by Special Court constituted under the Companies Act - This Court has jurisdiction to try the offences as a Special Court constituted under the Companies Act in terms of the notified order. - HELD THAT: - The complainant placed on record the notification (S.O. 2554(E) dated 27.07.2016) by which this Court was conferred jurisdiction to try offences in the capacity of a Special Court under Section 435(1)(a) of the Companies Act, 2013. In view of the statutory scheme under the Code and the notification, the Court is competent to take cognizance and proceed as a Special Court for offences under the Code.The Court proceeded to take cognizance and exercise jurisdiction as the Special Court to try the offences alleged in the complaint.Final Conclusion: The Court, exercising jurisdiction as a Special Court, took cognizance of alleged offences under the Insolvency and Bankruptcy Code based on documentary material, dispensed with pre-summoning evidence as the complaint was filed by an authorised public servant of IBBI, and directed that the five accused be summoned to face prosecution; matter listed for further proceedings.

Summary order. Suit decreed as compromised pursuant to a settlement for payment of Rs. 7,50,000 in six monthly installments under the settlement agreement dated 16.08.2018, with a penalty of Rs. 5,000 per installment per month on default from 15.11.2018; consent decree to be prepared and file consigned to record room.