The National Company Law Tribunal (NCLT), Chandigarh bench of Shri Bachu Venkat Balaram Das (Judicial Member) and Shri Atul Chaturvedi(Technical Member), has held that an application under section 19(2) of the Insolvency & Bankruptcy Code, 2016 (“Code”), filed by the Resolution Professional (“RP”) to collect information for effective conduct of Corporate Insolvency Resolution Process (“CIRP”) is not maintainable against third party to the proceedings.
As per Section 19(2) of the Insolvency and Bankruptcy Code (IBC) the Resolution Professional (RP) is empowered to apply to the Adjudicating Authority (AA) for directions if personnel of the corporate debtor, its promoters, or others required to assist the RP fail…
