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2019 (10) TMI 107 - Tri - Insolvency and BankruptcyDirection to RoC to accept the Form DIR-12 in relation to the appointment of the Directors of the Company, as Ms. Jayashree (one of the Directors) refused to file the required Form - HELD THAT:- In the case on hand, Ms. Jayashree one of the Directors has not filed the required Form before RoC concerned, thereby the newly appointed Directors’ name could not be reflected in the MCA portal. Besides this, the Company is undergoing the CIR Process and struggling for its revival. The assistance and co-operation of the Applicants/Directors is essentially required by the Resolution Professional and the Creditors to work out the Information Memorandum so that a viable Resolution Plan is received, the same may be placed before the CoC for taking appropriate decision. In case, the Directors appointed in the General Meeting are not allowed to be part of the CoC, it will certainly hamper the CIR Process and the very object of the CIR Process will get defeated. The Resolution Professional is directed to allow the Applicants viz., Mr. Kothanda Raman Sivakumar and Mr. Sathyamurthy Balaji Sreedhar to attend the meetings of the CoC, who shall provide every kind of information to the Resolution Professional including the books of account, financials and assets of the Corporate Debtor including receivables, so that the Resolution Professional could be in a position to work out the Information Memorandum and set up the criteria for “EoI” and proceed with the CIR Process as expeditiously as possible to seek Resolution Plan. Application allowed.
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