2022 (6) TMI 866

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....nd accused No.5 is the majority shareholder as also the authorized signatory for operation of bank accounts of Kindle Developers Private Limited (hereinafter referred to as the "Corporate Debtor") and thus "officer who is in default" of Corporate Debtor, as per relevant master data available with ROC. It is claimed that accused persons wilfully did not cooperate with Resolution Professional (hereinafter referred to as the "RP") and failed to provide critically important information such as books of accounts of the Corporate Debtor, financial statements including cash flow statements, tally data backup/ERP accounting data, details of the related party transactions etc. to the RP despite repeated requests made by RP and directions issued by H....

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....o the Resolution Professional but the accused person failed to comply with the directions given by NCLT. It is also alleged that the accused persons failed to cooperate and provide any assistance even to the statutory and forensic auditors of the Corporate Debtor during Corporate Insolvency Resolution Process. It is further alleged that RP took under his control and custody the land at Plot No.SC-01/D1, Sports City, Sector-79, Noida (hereinafter referred to as the "Property") on which the Directors of the Corporate Debtor were developing a project. The said property is a lease hold land which was leased from Noida Authority by the Corporate Debtor for 99 years. During Corporate Insolvency Resolution Process, the RP came to know that the al....