Bimalesh Bhardwaj & Ors vs Value Infratech Private Limited ... on 29 November, 2021
23. We are of the clear and firm opinion that in view of the
judgment of this tribunal in Capri Global Capital Limited vs. Value
Infracon India Pvt. Ltd. (through its Resolution Professional Mr.
Sanjay Kumar Singh) & Anr. (supra), it was the RP‟s responsibility
to fix financial creditors‟ claim amounts and vote shares properly
and in accordance with law, moreso, when the NCLAT had already
given its verdict in CA (AT)(Ins) 29 of 2020 (supra). He has been
sadly remiss and found wanting in the performance of his duties
as per the provisions of IBC. The hasty manner in which the items
were taken up for discussion in the 2nd CoC meeting, and no
action was taken to pursue the application u/s 19(2) and file an
application for exclusion of time spent in judicial intervention, are
stark pointers to the irresponsible handling of these issues by the
RP, for which he can‟t be absolved of blame. An independent
enquiry in his acts of omission and commission while carrying out
the CIRP of the corporate debtor by the Insolvency and Bankruptcy
Board of India can either absolve him of the allegation of his
collusion with Respondent No. 4 or establish his involvement. We
find that the RP did not take adequate interest in securing the
Company Appeal (AT) (Ins) No. 112 of 2021
Page 23 of 28
records and account details of the Corporate Debtor and took a
hasty view that in the absence of records, and disappearance of its
ex-directors of the Corporate Debtor should be sent into
liquidation.