Successful Resolution Applicant (SRA) is not accountable for non-compliance of MCA filing by Corporate Debtor or its Promoters/Director prior to insolvency commencement date, No penalty or interest can be fastened to Corporate Debtor under the new management – Skyhigh Infraland Pvt. Ltd. Vs. Monitoring Committee of Corporate Debtor- NCLT Chandigarh Bench
In this case, Successful Resolution Applicant(SRA) represented before the RoC, Haryana for removal of the earlier Directors and the appointment of new Directors. When the applicant approached the office of RoC Haryana, it was informed that the SRA must file annual previous returns and balance sheets failing which the Corporate Debtor would continue to remain in default of its statutory obligations.
NCLT Chandigarh Bench held that:
(i) Not to hold the present management of the corporate debtor accountable for the default committed by the corporate debtor or its promoters/director prior to insolvency commencement date.
(ii) Allow the applicant to file the returns and the financial statements as required under the provisions of the Companies Act 2013 and other related acts
(iii) If the returns/statements by the new management of the corporate debtor cannot be accepted online through e-filing due to technological issues, the same be accepted in the physical mode
(iv) No penalty or interest arising out of the default committed by the erstwhile management prior to 29.10.2018 can be fastened to the present corporate debtor under the new management.
