IN RE Vs. RADICO KHAITAN LTD

JUDGEMENT

(1.) This CP was filed by the operational creditor viz. Radico Khaitan Ltd. u/s 9 of the Insolvency & Bankruptcy Code, 2016 (hereinafter referred to I & B Code) praying for initiation of corporate insolvency resolution process against the corporate debtor viz. Ajudhia Distributors Pvt. Ltd.

(2.) The above petition was admitted by this Tribunal vide order dated 1/5/2017 and Mr. Arun Kumar Khandelia has been appointed as Interim Resolution Professional. From the inception of the proceedings initiated before this Tribunal, corporate debtor did not turn up before this Tribunal nor attended meeting convened by the resolution professional for arriving at a resolution plan. Because of the non-cooperation on the side of the corproate debtor, the resolution professional filed an application CA/(IB) No.238/KB/2017 under Sec. 19(2) and 19(3) of the I & B Code for issuance of direction to the corporate debtor to provide the requisite information to the resolution professional in discharging his duties.

(3.) Despite directions issued to the corporate debtor he did not attend the meeting convened by the Resolution Professional so also failed to file any materials or data as directed to furnish to the resolution professional by the corporate debtor.