TMI Blog2022 (7) TMI 197X X X X Extracts X X X X X X X X Extracts X X X X ..... whereabouts of the corporate debtor is not known corporate debtor is maintaining a dummy registered office - it is observed that the applicant had made all the possible endeavours in discharging his duties as a resolution professional and after the documents from the statutory auditor were received, the applicant is in a position to run the Corporate insolvency resolution process of the corporate debtor including preparation of the information memorandum, invite expression of Interest and other duties as envisaged in the code. The exclusion of 147 days is allowed for the purpose of counting the period of 'Corporate Insolvency Resolution Process' of 180 days from 10.12.2021 (visit of registered office by RP) to 07.05.2022 (statut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Operational Creditor whereby the applicant was appointed as Interim Resolution Professional and later on confirmed as Resolution Professional. ii. The Applicant immediately on receiving the CIRP order on 06.12.2021 immediately took all steps to take charge of the corporate debtor and further visited the site of the registered office of the corporate debtor at the address available at MCA master data, where the applicant found no such company in the name of the corporate debtor exist. iii. Further, the applicant visited another address of the corporate debtor available to the applicant situated at 2nd floor, orchid centre, Sector 53, Golf Course Road, Gurgaon but it was discovered that no office of corporate debtor exists the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt found dubious and suspicious transactions as against the corporate debtor. vii. The applicant is under an obligation to carry out the functions envisaged under IBC and fulfil his duties including preparing IM, issuing EOI, Form G and invite PRAs to submit the resolution plan. viii. The applicant submits that the non-availability of the information/documents by the suspended board of directors restrained the applicant to prepare the information memorandum to carry out his duties and functions during the period of 147 days from 12.10.2021 (visit of RP to the registered office of the CD) to 07.05.2022 (statutory auditor providing some financial information). ix. The applicant in the 3rd COC Meeting held on 13.05.2022 apprised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vided some financial information) from the CIRP period of 180 days as envisaged under IBC on account of time consumed due to non cooperation by the suspended directors to enable the 'Resolution Professional'/'Committee of Creditors' to complete the 'Corporate Insolvency Resolution Process'. 6. The Resolution Professional is directed to expedite the CIRP process and file the quarterly status report in respect of the actions taken in running of the Corporate Insolvency Resolution Process of the Corporate Debtor. 7. The present interlocutory application (IA/2417/ND/2022) stands allowed, as to no orders to cost. Let the Copy of the order be served to the parties. File be consigned to records. - - TaxTMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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