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2023 (2) TMI 1033
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.... Appeal by Resolution Professional ("RP") of the Corporate Debtor has been filed against the order dated 02.12.2022 passed by the National Company Law Tribunal, Kolkata Bench, Kolkata, by which IA(I.B.C.)/678(KB)2022 filed by the RP under Section 19, sub-section (2) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the "IBC") has been dismissed as infructuous. The Adjudicating Authority has also imposed cost of Rs.25,000/- on the RP. Aggrieved by the order, RP has come up in this Appeal. Company Appeal (AT) (Insolvency) No. 70 of 2023 2 2. Brief facts, necessary to be noticed for deciding this Appeal are: (i) Corporate Insolvency Resolution Process ("CIRP") commenced against the Corporate Debtor Stone In....
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....022 in IA No.13 of 2022, which was filed by earlier IRP, which was disposed of due to cooperation offered at that time. The order dated 25.04.2022 also granted liberty to move a fresh Application. Thus, the Application IA(I.B.C.)/678(KB)2022 was in accordance with the earlier order dated 25.04.2022 and cannot be said to be frivolous. It is further submitted that when Adjudicating Authority on the said Application having issued several directions to Respondent No.1 to extend cooperation and has also summoned Respondent No.1 to appear in person, how on the next date Application can be said to be frivolous and be dismissed as infructuous. It is further submitted by learned Counsel for the Appellant that order dated 02.12.2022 shows complete no....
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....d. 2. It is stated in this IA the Respondent is not cooperating in furnishing the information sough tby the Resolution Professional which is at page 505. 3. Our attention has been drawn to e-mail dated 2nd April, 2022, 19th May, 2022 in this regard. 4. Post this matter on 07.09.2022. In the meantime, we direct the respondent to furnish the entire information and all documents sought by the RP on or before next date. If this is not done, appropriate orders shall be passed with further necessary directions." 7. On 14.10.2022, when the Adjudicating Authority issued a direction taking a view that Respondent No.1 is trying to avoid the process of this Court and Respondent No.1 was directed to personally appear on 21....
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....ortunity is granted to file reply affidavit and in the absence of unable to take its stand. 6. After going through the record of proceedings, we see that notice was issued to Respondent No. 1 on 18th August, 2022. Wherein it was directed that the respondent to furnish entire information and all documents sought by RP on or before next date. 7. It was further made clear if this was not done, appropriate orders shall be passed with further necessary directions. After that the matter has been listed a number of times. We have considered the submission Ld. Counsel appearing for R1 we are of the view over this period after issues of notice till today he had enough time to file reply or take its stand to the maintainability or t....
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....ectors, then the RP can file an application for seeking prosecution under Section 236 of the Code. In view of the above position, we find this IA is absolutely frivolous and wastage of time. Accordingly, this application vide IA(I.B.C)/678(KB)2022 is dismissed as infructuous. b. A cost of Rs.25,000/- to be paid by the Resolution Professional from his own sources to be deposited in the Prime Minister's National Relief Fund within a period of one week." 9. The reason apparent from the order dated 02.12.2022 for rejecting the Application as infructuous is that earlier IA No.13 of 2022 seeking cooperation was disposed of. When we look into the order itself, it is clear that in 25.04.2022 order, liberty was reserved to RP to file an ....