Calcutta High Court (Appellete Side)
Welfare Society & Ors vs Uoi & Ors on 9 April, 2019
09.04.2019
01
Ct. No. 238
sdas
W.P. 24110(W) of 2016
With
CAN 1752 of 2019
The Investors & Marketing Members'
Welfare Society & Ors.
Vs.
UOI & Ors.
Mr. Aniruddha Roy, Sr. Adv.,
Mr. Sabyasachi Chawdhury,
Ms. Anshumala Bansal,
Ms. Uditi Chopra.
...for the applicant in
CAN 1752 of 2019.
Ms. Ruma Sikdar,
Mr. Subhadip Biswas.
... for Official Liquidator
Mr. Prasanta Kumar Dutta,
Mr. Susanta Kumar Dutt,
Mr. Syamantak Banerjee
.... for the SEBI
Ms. Kabita Mukherjee,
Mr. Manas Dasgupta,
..... for the respondents no.
18,20,21,22,25 & 29 Mr. Debasish Roy, Mr. M. Mukherjee ... for the respondents no.
23 & 24.
Mr. Kausik Chanda, learned ASG Ms. Sumitra Das ...for UOI.
Mr. Tulsidas Roy, Mr. Tarak Karan ...for the State.
In Re: CAN 1752 of 2019.
Heard the learned Counsel appearing for the respective parties. Application being CAN 1752 of 2019 has been filed on behalf of the Resolution Professional (R.P.) seeking direction upon Directorate of Economic Offences to permit access to it and its valuers/auditors to the records of M/s. Pincon Spirit Limited, a company in respect of which insolvency proceeding has been initiated.
Learned Counsel appearing for the applicant relies on various correspondences written by R.P. to the Directorate seeking access to books of records and other relevant documents of the company. It appears that such correspondences remained unanswered.
We are informed that the time limit for the insolvency resolution process is about to expire. In view of the nature of grievance expressed before us we observe that it is open to the Directorate of Economic Offences to render necessary assistance to the Resolution Professional (R.P.) in accordance with law.
We, however, make it clear that our direction may not be used as a justification to seek extension of time for conclusion of such resolution process which needless to mention shall be determined by the tribunal in accordance with law.
The application is according disposed of. Let photostat plain copy of this order, duly countersigned by Assistant Registrar (Court), be given to the applicant on usual undertaking.
(Jay Sengupta, J.) (Joymalya Bagchi, J.)