https://www.taxtmi.com/caselaws?id=430532 The Appellate Tribunal overturned the Order passed by the National Company Law Tribunal directing prosecution under Section 70 of the Insolvency and Bankruptcy Code, 2016. The Appellants, ex-directors of the Corporate Debtor, were found to have cooperated fully with the Resolution Professional, except for the non-production of a specific document. The Tribunal ruled that the direction for prosecution was unwarranted as there was no evidence of possession of the document in question. Both Appeals were allowed in favor of the Appellants, setting aside the Order for prosecution under Section 70 of IBC, 2016. en-us Thu, 17 Nov 2022 00:00:00 +0530 Tue, 22 Nov 2022 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430532 The Appellate Tribunal overturned the Order passed by the National Company Law Tribunal directing prosecution under Section 70 of the Insolvency and Bankruptcy Code, 2016. The Appellants, ex-directors of the Corporate Debtor, were found to have cooperated fully with the Resolution Professional, except for the non-production of a specific document. The Tribunal ruled that the direction for prosecution was unwarranted as there was no evidence of possession of the document in question. Both Appeals were allowed in favor of the Appellants, setting aside the Order for prosecution under Section 70 of IBC, 2016. Case-Laws Insolvency and Bankruptcy Thu, 17 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430532