NCIT addressed the failure of the Resolution Professional to appear or send counsel. The Court directed IBBI to ensure time-bound compliance and listed the matter for physical hearing.
Directed IBBI to ensure RP complies with Court requirements in time-bound manner; matter listed for physical hearing on 10.04.2024.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE NATIONAL COMPANY LAW TRIBUNAL: NEW DELHI PRINCIPAL BENCH
ITEM No. 5 (IB)-488(ND)/2021
IN THE MATTER OF:
Intec Capital Limited
…. Petitioner/Applicant
v.
Chitresh Lather
…. Respondent
Order Under Section 95(1) of Insolvency & Bankruptcy Code, 2016
Order delivered on 06.03.2024
CORAM: JUSTICE RAMALINGAM SUDHAKAR HON’BLE PRESIDENT
SH. AVINASH K. SRIVASTAVA HON’BLE MEMBER (TECHNICAL)
(HEARING THROUGH PHYSICAL MODE & VC)
PRESENT:
For the RP : None appeared For the Personal Guarantor : Mr. Sumesh Dhawan, Adv.
ORDER
On 10.01.2024, we called upon the RP to appear and submit his report. Subsequently, on 30.01.2024, the RP appeared through VC and stated that the Personal Guarantor was not cooperating. However, Ld. Counsel for the Personal Guarantor appeared and undertook to cooperate. The matter is listed today by virtue of an order dated 20.02.2024. The Ld. Counsel Mr. Sumesh Dhawan appearing for the Personal Guarantor assisted by Ld. Counsel Ms. Ankita Bajpai stated that they have extended cooperation to the RP. However, today we find neither the RP Mr. Sanjay Mehra is present nor his counsel who appeared earlier is present. This shows that the RP is not serious in taking the assignment, we call upon and direct IBBI to take appropriate steps to ensure that the RP complies with the requirement of the Court in a time-bound manner.
A copy of this order may send to the IBBI.
At request and with consent of the parties, list the matter for a physical hearing on 10.04.2024.
-sd-
(RAMALINGAM SUDHAKAR)
PRESIDENT -sd- (AVINASH K. SRIVASTAVA) MEMBER (TECHNICAL)
Vinod Arora – 06.03.2024
1 issue framed by the court
Whether the Insolvency PROFESSIONAL is complying with the requirement of the Court in a time-bound manner.
1 provisions across 1 enactments
Intec Capital Limited
Chitresh Lather
Ramalingam Sudhakar
Avinash K. Srivastava
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
