VINAYAKA PAPER & BOARD LIMITED Vs. UNION BANK

JUDGEMENT

(1.) The present Company Application bearing CA. No. 04 of 2018 in CP. (IB) .No.l73/10/HDB/2017 is filed by M/s. Sri Vinayaka Paper & Board Limited under section U/s.19 (2) of Insolvency Bankruptcy Code, 2016 & Regulation 60(5) of(IBBI) Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person) Regulations, 2016 by inter-alia seeking to direct or instruct to M/s. P.Murali & Co., Statutory Auditors of the Company for acceptance of financial statements which are signed by the Suspended Board of Directors along with Resolution Professional and complete the Audit and submit the audited financials for the financial year 2016-17 along with Audit Report at the earliest towards smooth completion of the Corporate Insolvency Resolution Process (CIRP) , Survival of the Company, to attract the good Investors in the company, etc.

(2.) Brief facts, leading to filing of the present CA, are as follows:-

(3.) The case was listed on various dates viz., 31.082017, 13.09.2017, 20.09.2017, 22.09.2017, 24.10.2017, 02.11.2017, 09.01.2018,17.01.2018 and today.