When sufficient provisions are available in the IBC especially under Sections 19, 66 and 74 of IBC to deal with the situations of non-cooperation by the Suspended Management to the RP in completion of CIRP, fraudulent trading or wrongful trading, if any, during CIRP and punishment for Contravention of Moratorium provisions of Section 14 of IBC then why he had filed FIR – Sandeep Khaitian, IRP Vs. Piyush Periwal & others – NCLT Guwahati Bench
March 10, 2022
The Adjudicating Authority holds that it has not been made clear by the RP during the hearing that when sufficient provisions are available in the IBC especially under Sections 19, 66 and 74 of IBC to deal with the situations of non-cooperation by the Suspended Management to the RP in completion of CIRP, fraudulent trading or wrongful trading, if any, during Corporate Insolvency Resolution Process or a Liquidation Process, and Punishment for Contravention of Moratorium provisions of Section 14 of IBC then why he had filed FIR on 23.04.2020 with Margherita, Police Station. The Production of the Unit is closed in the month of July, 2020.