Unrelated parties under no obligation to furnish information under Section 19 of Insolvency Code, NCLT

Aditi Singh July 2 2019
In exercise of the powers conferred under Section National Company Law Tribunal

The National Company Law Tribunal, Chandigarh Bench has held that Section 19 of the Insolvency and Bankruptcy Code (Insolvency Code) casts an obligation on the ex-personnel of the corporate debtor, its promoter or any other person associated with the ex-management including ex-directors to extend all assistance and cooperation to the Interim Resolution Professional to enable him to manage the affairs of the corporate debtor.

It has, however, clarified that unrelated parties are under no obligation to furnish information under Section 19 of . . .

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