https://www.taxtmi.com/caselaws?id=400490 The Tribunal granted the Resolution Professional's application for directions against State Bank of India and suspended directors of the Corporate Debtor under Section 60(5) of the Insolvency and Bankruptcy Code. The State Bank of India was directed to hand over assets and offices to the RP, with the RP taking custody of records in the directors' presence. Cooperation from the suspended directors was mandated, with provisions for contempt proceedings in case of non-compliance. The judgment aimed to facilitate a successful Corporate Insolvency Resolution Process by ensuring access to assets and disclosure of information, emphasizing compliance with the Insolvency and Bankruptcy Code. en-us Fri, 21 Aug 2020 00:00:00 +0530 Mon, 09 Nov 2020 13:44:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400490 The Tribunal granted the Resolution Professional's application for directions against State Bank of India and suspended directors of the Corporate Debtor under Section 60(5) of the Insolvency and Bankruptcy Code. The State Bank of India was directed to hand over assets and offices to the RP, with the RP taking custody of records in the directors' presence. Cooperation from the suspended directors was mandated, with provisions for contempt proceedings in case of non-compliance. The judgment aimed to facilitate a successful Corporate Insolvency Resolution Process by ensuring access to assets and disclosure of information, emphasizing compliance with the Insolvency and Bankruptcy Code. Case-Laws Insolvency and Bankruptcy Fri, 21 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400490