The word used “may” under Section 99(2) cannot be construed as mandatory one and it gives only discretionary however to the Resolution professional – KEB Hana Bank Vs. Mr. Rohit Nath – DRT Chennai Bench (DRT-II)
October 22, 2020
By reading section 99(2), it is crystal clear that the resolution professional may require the debtor to furnish the details about the repayment and there is nothing to suggest that it is made mandatory to the resolution professional to call for from the debtor the details of repayment. The word used “may” cannot be construed as mandatory one and it gives only discretionary however to the Resolution professional. In view of section 99(2), where does not create a mandatory obligation on the RO, the contention of the respondent is that non- compliance of section 99(2) vitiates the proceedings is unfounded.