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Court orders senior police official to find missing director, emphasizes liquidation urgency. Advocate General and Public Prosecutor to take action. The court directed a senior police official to appear if the missing director was not promptly located, emphasizing the urgency of completing the ...
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Court orders senior police official to find missing director, emphasizes liquidation urgency. Advocate General and Public Prosecutor to take action.
The court directed a senior police official to appear if the missing director was not promptly located, emphasizing the urgency of completing the liquidation process within the specified timeframe. The order was to be communicated to the Advocate General for the State of West Bengal and the Public Prosecutor of the High Court at Calcutta for necessary action. Further consideration of the matter was scheduled on a specified date to stress the importance of advancing the main case.
Issues: Miscellaneous Application under sections 19(2) and 34(3) of the Insolvency and Bankruptcy Code, 2016 seeking reliefs related to forensic audit, cooperation from respondents, access to corporate debtor's properties, verification of credit facilities, and nullification of certain filings and resolutions.
Analysis:
1. The Applicant, appointed as the Liquidator, faced non-cooperation from the directors and stakeholders despite various orders. The directors failed to comply with court orders and warrants, hindering the liquidation process.
2. The court directed the police to produce the directors, but one director's whereabouts were untraceable. The court expressed dissatisfaction with the police's inability to locate the missing director, emphasizing the urgency of completing the liquidation process within the stipulated timeframe.
3. In response to the director's disappearance, the court directed a senior police official to appear in court if the missing director was not found. The court stressed the importance of timely completion of the liquidation process as mandated by the Insolvency & Bankruptcy Code, 2016.
Orders:
1. The court directed a senior police official to appear in court if the missing director was not located promptly. The urgency of completing the liquidation process within the specified timeframe was highlighted.
2. A copy of the order was to be communicated to the Advocate General for the State of West Bengal and the Public Prosecutor of the High Court at Calcutta for awareness and necessary action.
3. The matter was scheduled for further consideration on a specified date, emphasizing the importance of progressing with the main case.
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