M. M. Kumar, Member - (1.) Notice of the application has been served to Mr. Pramod Kumar, erstwhile, Director of the respondent in person and Mr. Shyam Sunder, GM (Project) is also present.
(2.) We have made them understand the law in Hindi. The requirement of law of cooperating with the Resolution Professional as per the provision of Section 19 requires all erstwhile management and personnel to Corporate with the interim Resolution Professional or Resolution Professional. In case, any such person try to obstruct the insolvency process strict action is contemplated.
(3.) After we have explained to them, Mr. Pramod and Mr. Shyam Sunder, personnel of the ex-management undertake to hand over all the audited Financial statements for the financial year commencing from 2014 and the other relevant records as required by the Interim Resolution Professional under Section 19 of the IBC.;