TDS paid by Corporate Debtor on interest payable cannot be considered as acknowledgment in writing of the liability by the Corporate Debtor – P.M. Cold Storage Pvt. Ltd. Through Interim Resolution Professional Vs. Goouksheer Farm Fresh Pvt. Ltd. – NCLAT New Delhi
NCLAT held that since the voting share in the CoC is extremely relevant and important element in the CIRP insofar as the insolvency resolution of the CD is concerned. It was the duty of the RP to exercise necessary care and diligence in verifying the claims and scrutinise the documents submitted with Form C for genuineness and authenticity. Such exercise does not appear to have been done by the RP in the present case. We would, therefore, urge the Insolvency and Bankruptcy Board of India to investigate this matter further regarding the conduct of RP and take necessary action under the regulation.
