Under Section 60(5) of Insolvency &

Bankruptcy Code, 2016 r/w Rule 11 of

NCLT Rules 2016

Dharit Kishorbhai Shah

…Applicant

Vs.

Dhawalsinh Mohite Patil Pratap Sinh &

Others

…Respondents In the matter of

C.P.(IB) No. 3610/MB/2019

Punjab National Bank

Financial Creditor

Vs.

Dhawal Pratap Singh Mohite Patil Agro

Industries

Corporate Debtor

Order delivered on: 24.04.2024

Coram:

Shri Prabhat Kumar Justice V.G. Bisht (Retd.) Hon’ble Member (Technical) Hon’ble Member (Judicial)

CP (IB) 3610 OF 2019 Appearances:

For the Applicant : Mr. Amey Hadwale, Advocate For the Respondent : None

ORDER

Per: Prabhat Kumar, Member (Technical)

1. This Application IA 1381/2022 is filed by Dharit Kishorbhai Shah, the Liquidator (“Applicant”) against the suspended Board of Directors, who are arrayed as Respondent No. 1 to 3, in the Liquidation Proceedings (“Liquidation”) in the matter of M/s Dhavalpratapsinh Mohitepatil Agro Industries Limited [In Liquidation] (Corporate Debtor) under Section 66 of The Insolvency and Bankruptcy Code, 2016 ("Code"), seeking following reliefs :

i. Consider and allow the instant Interlocutory application in terms of Section 66 of IBC, 2016 ii. Pass appropriate directions/orders/ penalties against Respondent in terms of Section 67, 70, 71, 72, 73 and 74 of the Code iii. In addition to the aforesaid reliefs, the Hon'ble Tribunal may refer the matter to Insolvency and Bankruptcy Board of India ("IBBI") or to the Central Government ("CG") to make a complaint against the offenders before the Special Court in accordance with section 236 of the Code.

iv. And for such other/ further order(s) and/or direction (s) as the facts and circumstances of the case may warrant CP (IB) 3610 OF 2019

2. This Tribunal, by its order dated 20.02.2020, admitted the captioned petition against M/s Dhavalpratapsinh Mohitepatil Agro Industries Limited ("Corporate Debtor"). The Applicant, Mr. Dharit Kishorbhai Shah was thereunder appointed as the Interim Resolution Professional ("IRP") and the COC resolved to continue the Applicant as the Resolution Professional for the Corporate Debtor. The Corporate Insolvency Resolution Process ("CIRP") commenced under the provisions of the Code. The Applicant is duly registered with the Insolvency and Bankruptcy Board of India bearing Registration No. IBBI/IPA- 001/IP-P00993/2017-

2018/11640.

2.1. Thereafter, pursuant to the provisions of the Code, the 1st meeting of the Committee of Creditors ("COC") was held on 20.03.2020, wherein the applicant informed the COC that despite making several communications, the suspended management of the Corporate Debtor has not provided any information / documents / records including the custody and control of the assets of the Corporate Debtor.

2.2. The Applicant/Liquidator states that owing to the willful obstructions and hindrances caused by the Respondents, after initiation of CIRP the Applicant/Liquidator faced difficulties in taking control over the business operations and securing possession of the assets/premises of Corporate Debtor. It is a matter of record that owing to such non- co-operative conduct carried out by the respondents, the Applicant/liquidator had to prefer a Misc application no. 2079 of 2019 u/s 19 of IBC before the Hon'ble NCLT for seeking necessary directions against the CP (IB) 3610 OF 2019 petitioner. Further as the respondents were reluctant in handing over peaceful possession of the assets of the Company this Hon'ble Tribunal was pleased to order for providing necessary police assistance to the Resolution Professional for taking over the possession of the properties of the Corporate Debtor. It is only pursuant to the orders dated 21.01.2021 passed by this Hon'ble Tribunal the Applicant/Liquidator could take charge over the business operations and assets of the Corporate Debtor on 08.02.2021.

2.3. Only after persistent efforts, the Applicant with the help of local police could secure the possession of the assets and factory premises on 08.02.2021. The Applicant immediately deployed