2021 (12) TMI 81

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....16 read with Rule 11 of the NCLT Rules, 2016 seeking relief as follows; a. Appoint M/s. Thomas VM and Co. or any other Chartered Accountant to reconcile the accounts of the Applicant and the Corporate Debtor, in terms of the directions of this Hon'ble Tribunal, in a time bound manner, preferably in four weeks from the date of issuing of the Order, and file a report with this Hon'ble Tribunal; b. Direct the Respondents to cooperate in reconciliation of the accounts of the Applicant and the Corporate Debtor. 2. It is averred in the Application that this Tribunal vide order dated 13.09.2017 had ordered commencement of CIRP of the Corporate Debtor and the Respondent No. 1 herein was appointed as Resolution Professio....

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....o. 686 of 2019 upheld the order passed by this Tribunal. 6. The learned Counsel for the Applicant submitted that as per the directions of this Tribunal, addressed a letter and email dated 14.04.2020 to the First Respondent seeking an update on the status of the liquidation process of the Corporate Debtor and the Assets of the Applicant affected by the liquidation process. Further, the Applicant by way of a letter made a settlement offer to the First Respondent and also indicated its willingness to reconcile the accounts between the parties by the appointment of an independent Chartered Accountant, and in the meantime the Applicant identified an Independent Chartered Accountant Firm, namely, Thomas VM and Company and intimated to the Firs....

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.... from 12.05.2011 to 12.04.2021 with renewal option vide master agreement dated 12.05.2011. The said agreement is still subsisting and in force. Subsequently the parties entered addendum to the master Agreement on 27.04.2016 for manufacturing of new products. In terms of said addendum, the Applicant at its cost has installed manufacturing line and related equipment at the site of the Corporate Debtor for manufacturing of new products and such assets will remain the property of the Applicant. 11. The learned Counsel for the Respondent/Liquidator further submitted that the impugned order is comprising of two directions viz., (i) Both the Applicant and the Corporate Debtor are directed to perform their respective obligations as per the terms....