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TMI Blog2022 (8) TMI 714X X X X Extracts X X X X X X X X Extracts X X X X ..... ate For the Respondent Nos.1 and 2 : Mr. Jatin Singhal , Practising Company Secretary ORDER Per : Subrata Kumar Dash , Member ( Technical ) CIRP proceedings were initiated against M/s U I Beverages Private Limited, the corporate debtor, when CP (IB) No. 97/Chd/Pb/2019 was admitted by this Adjudicating Authority vide order dated 02.03.2020. The instant IA has been filed by the Resolution Professional of M/s U I Beverages Private Limited under Section 19(2) of the Insolvency and Bankruptcy Code, 2016 seeking directions to Respondents No.1 and 2 to provide the accounting data record of the Corporate Debtor in soft data and physical record from 01.04.2014 till 31.03.2017. 2. The brief facts of the case are as follows:- 2.1 It is submit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and on the basis of the said Audit, Resolution Professional has finalized his Report. 2.8 That during the meeting of the Committee of Creditors held on 28.08.2020, the said issue was again raised and the extract of the relevant matter is reproduced herein below: "It was further informed that the directors and employees has not provided the accounting data and records pertaining to the period of 2014 to 2017, in spite of repeated requests and Resolution Professional has not been able to do the audit for the said period. Mr. Rajnishpal Singh Dhaliwal, director of the suspended Board of the CD, informed that there was some problem in the past, hence the data is no longer available with him. After discussion, Resolution Professional was auth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so been removed from the Registered Office of the Company by Mr.RPS Dhaliwal." The true copy of the resolution passed by the COC in its 4th meeting held on 10.07.2020 is annexed hereto and marked as ANNEXURE A-4. 2.11 That in view of the said resolution dated 10.07.2020, the Resolution Applicant is filing the present application under Section 19(2) of the IBC, 2016 seeking directions to Respondents No. 1 and 2 to provide the accounting data from 01.04.2014 till 31.03.2017. 3. It is submitted by the respondent Nos.1 and 2 by Diary No.01306/2 and 01306/3 both dated 10.02.2022, respectively that he has got the data which was available with the respondents being directors of the corporate debtor. The applicant was provided with the data beg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d documents, which can be considered as their admission of failure to provide the same to the Applicant. 5. We have heard the learned counsel for the applicant as well as learned counsel for the respondents No.1 and 2 and perused the material available on record. Even if the contention of the respondents that the accounting data has been corrupted is accepted, the hard copies of the same must be with the suspended management of the Corporate Debtor as it is required to be maintained for audit purposed. As per Section 19(1) of the Code, the suspended management is under obligation to extend all assistance and cooperation to the RP as required in managing the affairs of the company. 6. In view of the above discussion, we direct the Mr. Rajn ..... X X X X Extracts X X X X X X X X Extracts X X X X
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