- (1.) The Interim Resolution Professional has filed the instant application under Section 19(2) of the Insolvency & Bankruptcy Code, 2016 read with Rule 11 of the NCLT Rules, 2016 with a prayer for issuance of directions to Noida Authority to cooperate and permit the IRP to take custody and control of the documents /information including the computers and the IT systems belonging to the Corporate Debtor and in its possession on account ofjthe property having been sealed.
(2.) Notice of the application was issued and in response reply by the non-applicant-intervener has been received. In unmistaken terms, Noida Authority has stated that it is seized of the property of the Amrapali Group-Corporate Debtor and they are not aversed to furnishing the relevant record, information/laptop etc. to the Insolvency Resolution Professional to assist him to finalise the resolution process. It has also been submitted that Noida Authority could not have opened the premises without the directions issued by the Tribunal/Court to it as the property stands' in the name of some other party/allottee, namely M/s. Novodaya Properties Pvt. Ltd.
(3.) Having heard learned Counsel for the parties, we are of the view that once the property is under the safe custody of the Noida Authority, then there is no impediment to issue directions to it that all the records belonging to Corporate Debtor would be required for fmalisation of corporate insolvency resolution process and the same may be furnished to the Insolvency Professional which is consistent with the spirit of Section 19(2) &(3) of IBC which imposes an obligation on all personnel to extend cooperation to Interim Resolution Professional so that he may function smoothly.;