Tribunal Allows Travel for Wedding Despite Objections in Insolvency Case

The Tribunal granted permission for the applicant to travel abroad to attend a wedding ceremony, despite objections raised by the respondent during insolvency proceedings. The respondent's application seeking directions against the applicant was deemed not maintainable as they were not a corporate debtor or person under the Insolvency and Bankruptcy Code. The Tribunal emphasized the role of the liquidator in managing assets post-liquidation and allowed the travel with specified conditions for compliance and accountability, including the submission of an Indemnity Bond and surety.

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Issues Involved:
1. Permission to travel abroad for attending a wedding ceremony during insolvency proceedings.

Detailed Analysis:
1. The application sought permission for the applicant to travel to Abu Dhabi, UAE, from 19.02.2019 to 24.02.2019 to attend a wedding ceremony. The respondent had earlier moved an application under sections 60(5)(c), 66, and 67 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking directions against the applicant to deposit their passports with the Tribunal during the proceedings.

2. Allegations were made that the applicant had siphoned off funds from the company and was not cooperating with the liquidator. An ad interim order was passed restraining the applicant from leaving the country without permission. The applicant denied the allegations, claiming they were false and fabricated, and that the respondent had suppressed material facts regarding a director's permission to travel abroad.

3. The respondent, as the operational creditor, argued that the applicant had not hindered the insolvency resolution process and that the company was under liquidation. The respondent objected to granting permission for the applicant to travel, citing concerns about the applicant's friend's involvement in fraudulent activities.

4. The Tribunal noted that the respondent was neither a corporate debtor nor a corporate person under the IBC, making the application not maintainable. The respondent failed to provide substantial evidence against the applicant, and all allegations were against third parties.

5. The Tribunal highlighted that the liquidator is responsible for managing the assets of the corporate debtor once liquidation is ordered. Only the Resolution Professional or Liquidator can file applications under relevant sections of the IBC. Considering the circumstances, the Tribunal granted permission for the applicant to attend the wedding but required an Indemnity Bond and surety.

6. The applicant was directed to inform the Tribunal upon return and produce the order at the Indian Embassy in Abu Dhabi. The application was allowed with the specified conditions to ensure compliance and accountability.

This detailed analysis covers the various legal aspects and considerations involved in the judgment regarding permission to travel abroad during insolvency proceedings.

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