https://www.taxtmi.com/caselaws?id=309415 The Tribunal imposed penalties of Rs. 10,00,000 each on ex-directors and a statutory auditor for non-cooperation in handing over control of the corporate debtor, violating the Insolvency and Bankruptcy Code. Contempt notices were issued, and bank accounts were frozen to enforce compliance. Police assistance was directed to facilitate the Resolution Professional in taking possession of assets. The order emphasized the necessity of cooperation in insolvency proceedings and highlighted the severe repercussions for non-compliance. en-us Thu, 28 Mar 2019 00:00:00 +0530 Fri, 01 Sep 2023 22:30:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309415 The Tribunal imposed penalties of Rs. 10,00,000 each on ex-directors and a statutory auditor for non-cooperation in handing over control of the corporate debtor, violating the Insolvency and Bankruptcy Code. Contempt notices were issued, and bank accounts were frozen to enforce compliance. Police assistance was directed to facilitate the Resolution Professional in taking possession of assets. The order emphasized the necessity of cooperation in insolvency proceedings and highlighted the severe repercussions for non-compliance. Case-Laws Insolvency and Bankruptcy Thu, 28 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309415