Karan Gambhir, Director, Forging Pvt. ... vs Sajeve Bhushan Deora, R.P. Of Forgings ...

Karan Gambhir, Director, Forging Pvt. Ltd. ...Appellant

Vs.

Sajeve Bhushan Deora, R.P. of Forgings Pvt. Ltd. ...Respondent

Present: For Appellant: - Mr. Karan Gandhi, Advocate with Mr. Pulkit Deora, Advocate

ORDER

02.08.2018─ The appellant who is Director of Forgings Private Limited

(Corporate Debtor) is unhappy with the Order dated 4th July 2018 whereby

the Adjudicating Authority (National Company Law Tribunal), Principal

Bench, New Delhi has directed DCP, New Delhi to personally ensure that the

warrants are executed against the two directors namely Mr. Hari Narayan

Yadav and Satender Kumar Thakur who have been absconding and not

cooperating with Resolution Professional.

In the meanwhile, the appellant has been directed to surrender his

passport to the Bench Officer to ensure that he does not leave the country

without prior permission of the Adjudicating Authority.

Learned counsel appearing on behalf of the appellant submits that the

passport is his personal document and the Tribunal has no jurisdiction to

direct to surrender the same.

However, we do not appreciate such submission, as the directors in

terms of Insolvency and Bankruptcy Code, 2016 are duty bound to cooperate

with the Resolution Professional to ensure early completion of the 'Corporate

Insolvency Resolution Process'. Two of the directors namely Hari Narayan

Yadav and Satender Kumar Thakur have already absconded and not

cooperating with the Resolution Professional. If the appellant Mr. Karan

Gambhir also leaves the country, the Resolution Professional will not be in

a position to complete the Resolution Process.

In the circumstances, we are not inclined to interfere with the impugned

order dated 4th July 2018. Now more than one month having passed, the

appellant is directed to hand over the passport to the Bench Officer, NCLT,

Principal Bench immediately, if not yet complied with.

The appeal is dismissed with the aforesaid directions.

(Justice S.J. Mukhopadhaya) Chairperson

(Justice Bansi Lal Bhat) Member(Judicial) sm/uk