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2019 (5) TMI 1416 - Tri - Insolvency and BankruptcyDirection for the promoters/directors of the Corporate Debtor to co-operate in completion of Corporate Insolvency and Resolution Process/Liquidation process of Corporate Debtor - section 19 of Insolvency and Bankruptcy Code - HELD THAT:- It is worth to note that there are no submissions produced on record by the Respondents. The Respondents despite service of notice by the Applicant for the Miscellaneous Application in hand, chose neither to file any reply nor to appear before this Bench. Affidavit of service has been produced on record by the Applicant. It is informed by the Ld. Counsel for the Applicant that Mr. Anil Kathuria was present on the hearing of 04.06.2018 but he chose to stay silent on this application. Hence, it can be said that the respondents have nothing to say in their defence. The Applicant has made out its case that the respondents were indulged in preferential, fraudulent and undervalued transactions. The conduct of the Respondents since the initiation of Corporate Insolvency and Resolution Process was unacceptable and not satisfactory to this Bench. The Erstwhile IRP also reported and recorded the same in the 1st CoC meeting about the non co-operation by the Respondents/Promoters/Directors. Hence, in respect of the prayer of the Applicant seeking co-operation from ex promoters/directors of the Corportae Debtor, an order is passed under section 19(3) of the I&B Code on the ex promoters/directors to comply with the instructions of the liquidator and to co-operate with him in collection of information and management of the Corporate Debtor and now in completing the liquidation proceedings as well. Application allowed.
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