TaxTMI 
TaxTMI 
2026 (8) TMI 426
X X X X Extracts X X X X
X X X X Extracts X X X X
....nical) The present appeal has been preferred under Section 61 of the Insolvency and Bankruptcy Code, 2016 ('IBC' in short) by the Appellants which arises out of the order dated 21.07.2026 (hereinafter referred to as the 'Impugned Order') passed by the Adjudicating Authority (National Company Law Tribunal, Court-I, Ahmedabad) in I.A./510(AHM)2026 in CP (IB) No. 199 of 2025. By the said Impugned Order, the Adjudicating Authority has allowed the prayer contained in I.A No. 510 of 2026 and inter alia directed the present Appellants to be present in the office of the Respondent No. 1-Resolution Professional of Gensol EV Lease Ltd. and take all necessary steps for identification and recovery of the EV vehicles from Faridabad location. Aggrieve....
X X X X Extracts X X X X
X X X X Extracts X X X X
....dicating Authority against them in their individual capacity had caused grave prejudice to them. It was also contended that the Adjudicating Authority was not empowered to issue personal directions to the Appellants being suspended directors of a different Corporate Debtor. 4. Making submissions on behalf of the Respondent No. 1-RP of Gensol, it was submitted by the Ld. Counsel that repeated requests were made by the Respondent No. 1 to Respondent No. 2 and the present Appellants to provide information on the location of the vehicles leased to Log 9 so as to facilitate its recovery. Since the Respondent No. 2 and the Appellants had failed to facilitate access to the requisite information and render effective assistance in the identificat....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e as reproduced below: "7. Since the information furnished by Respondent No. 1 has not proved useful for recovery of the vehicles, the RP of Respondent No. 1 is directed to nominate an authorised representative to assist in the recovery process. Respondent Nos. 2 and 3 shall also accompany the authorised representative to the Faridabad location for identification and handing over of the vehicles, if are found. 8. Accordingly, the authorised representative of Respondent No. 1, Respondent Nos. 2 and 3, and the authorised representative of the Applicant/RP shall meet on 31.07.2026 at 11:00 A.M. at the office of the Applicant/RP and take all necessary steps for identification and recovery of the vehicles from the Faridabad loc....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ion concerning vehicles, inventory, recovery status, operational records, location details, contact particulars of various stakeholders and other information relevant to the CIRP, as far as available and accessible to the Applicants, was furnished from time to time by the Applicants and their team. The extensive correspondence exchanged between the Applicants' organisation and the office of Respondent No.2 would demonstrate beyond doubt that the Applicants have, throughout the CIRP, acted in a transparent manner and have consistently cooperated with Respondent No.2 in discharge of her statutory functions." 9. It would also be useful at this stage to glance at Section 60(5) of the IBC which is as extracted below: Section 60: ....