2018 (2) TMI 1970

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....(Judicial) Mr. Sanjay Kumar Ruia, Resolution Professional. M.K. Shrawat, Member (Judicial). ORDER 1. In this case an Order under section 9 of The Code was passed on 06.08.2017 (CP No.1268/1&BC/MB/2017) wherein M/S. Jai Ambe Enterprise is the Operational Creditor (Petitioner) and M/S. S.N. Plumbing Pvt. Ltd. is Corporate Debtor (Respondent). Vide Para 15, Mr. Sanjay Kumar Ruia is appoin....

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....ued by NCLT Mumbai Bench to proceed against the Corporate Debtor IL & FS Engineering of the Creditor S.N. Plumbing. 3. To decide this Application, we have perused the provisions of Section 25 of The Code wherein prescribed the "Duties of Resolution Professional". The Section says that it shall be the duty of the Professional to preserve and protect the Assets of the Corporate Debtor. For that p....

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.... all possible steps not only to invite Resolution Applicant but to take steps for recovery of the Debts outstanding. The action against IL & FS Engineering is one of such action as a Corporate Debtor by invoking the provisions of section 9 of The Code. As per the statement made before us by the RPI no other case is pending against IL & FS in the capacity of a Corporate Debtor. 5. In this connec....