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2018 (11) TMI 1045 - Tri - Insolvency and BankruptcyCorporate Insolvency Resolution Process - violation committed by the ex-management or any tainted/illegal transaction by ex-directors or anyone else the Interim Resolution Professional/Resolution Professional - Held that:- Corporate Debtor-Respondent would reveal that a design effort has been made to impede the insolvency proceedings by seeking time over and over again for filing reply. The leniency shown by the Bench has been misused to the hilt. Order dated 28.08.2018 was passed whereby direction was issued that in case reply was not filed then the defence of the respondent was to be struck off and no reply was to be taken on record, and, inspite of said specific direction no reply has been filed. Corporate Debtor-Respondent deliberately delayed the proceeding so as to avoid the initiation of Corporate Insolvency Resolution Process. This case thus is a classic example of such a conduct. We say no more on this issue. The office is directed to communicate a copy of the order to the Financial Creditor, the Corporate Debtor, the Interim Resolution Professional and the Registrar of Companies, NCR, New Delhi at the earliest but not later than seven days from today. The Registrar of Companies shall update his website by updating the status of ‘Corporate Debtor’ and specific mention regarding admission of this petition must be notified to the public at large.
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