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of <h1>Tribunal Orders Compliance Affidavit, Respondent Attendance, Show Cause Notice Issued</h1> <h3>Ashapura Perfoclay Ltd. Versus Mahabir Techno Ltd.</h3> Ashapura Perfoclay Ltd. Versus Mahabir Techno Ltd. - TMI Issues Involved: Non-furnishing of information by respondents, Referral to Insolvency and Bankruptcy Board of India1. Non-furnishing of Information by Respondents:The Tribunal noted that despite clear notice, the respondents had not provided the required documents/records except for certain balance sheets. The Tribunal directed the applicant to supply a copy of the compliance affidavit to the respondent's counsel. The respondents were given a final opportunity to submit the information within three weeks. The first respondent, who was actively involved in managing the respondent-company, was ordered to be present at every hearing until further notice. The respondents' counsel claimed that they had already submitted all available information and could not provide more. Consequently, the Tribunal issued a show cause notice to all respondents, asking why the matter should not be referred to the Insolvency and Bankruptcy Board of India for action under Section 236 read with Section 70 of the Code. The respondents were given two weeks to respond to the show cause notice, and the next hearing was scheduled for a specific date.2. Referral to Insolvency and Bankruptcy Board of India:Due to the non-compliance of the respondents in furnishing the required information, the Tribunal decided to issue a show cause notice to consider referring the matter to the Insolvency and Bankruptcy Board of India. This action was proposed to enable the Board to take necessary steps as per the relevant sections of the Code. The respondents were given a timeline to provide any further replies to the show cause notice, and the case was listed for a future date to proceed with the matter accordingly.
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