NCLT directs new managements of Ruchi Soya Industries Ltd. and ex-management to Cooperate ongoing Forensic Audit and investigation, under Sec. 32A of IBC – IDBI Bank Ltd. Vs. Ruchi Soya Industries Ltd. and Another – NCLT Mumbai Bench

NCLT Mumbai Bench held that: (i) Provisions of Section 32A(3) of the Code are explicitly clear and mandates the corporate debtor and any person who may be required to provide assistance under such law as may be applicable to such corporate debtor or person, shall extend all assistance and co-operation to any authority investigating an offence committed prior to the commencement of the CIRP. (ii) direct the Corporate Debtor and Respondent No. 2 to cooperate and provide all such documents and assistance, as may be requested and requisitioned by the Forensic Auditor from time to time for the necessary completion of the forensic audit pursuant to MP High Court order dated 05.12.2019.

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