https://www.taxtmi.com/caselaws?id=419560 The Tribunal found that the ex-management failed to comply with the order to provide tally data to the Liquidator, citing the theft of a macbook containing the data. However, inconsistencies in their claims led the Tribunal to impose a fine of Rs. 5 lakhs on the ex-management for misconduct. The ex-directors' contradictory statements regarding the theft were deemed false, emphasizing the importance of accurate information in insolvency proceedings. The Tribunal stressed the obligation of ex-management to cooperate with the Liquidator and directed the Resolution Professional to respond to previous orders within two weeks. en-us Wed, 02 Mar 2022 00:00:00 +0530 Tue, 15 Mar 2022 08:26:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419560 The Tribunal found that the ex-management failed to comply with the order to provide tally data to the Liquidator, citing the theft of a macbook containing the data. However, inconsistencies in their claims led the Tribunal to impose a fine of Rs. 5 lakhs on the ex-management for misconduct. The ex-directors' contradictory statements regarding the theft were deemed false, emphasizing the importance of accurate information in insolvency proceedings. The Tribunal stressed the obligation of ex-management to cooperate with the Liquidator and directed the Resolution Professional to respond to previous orders within two weeks. Case-Laws Insolvency and Bankruptcy Wed, 02 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419560