NCLT (Chandigarh Bench) : In Oasis Agro Infra Ltd.

The limit of two years imposed on Resolution Professional for presenting it before CoC creates no right in the ex-management to deny any information prior to two years.

The provision is couched in the language which requires performance of duties by Interim Resolution Professional / Resolution Professional. It does not clothe the Ex-Directors with a right to withhold information beyond period of two years. Therefore, the attempt to escape from furnishing of information is wholly against the letter and spirit of the provisions of the Code.

Link : https://nclt.gov.in/sites/default/files/final-orders-pdf/CA%20No.67%2C2018%20in%20CP%20%28IB%29%20No.60%2CChd%2CPb%2C2017%20-%20Oasis%20Agro%20Infra%20Ltd%20-%20Order%20dated%204.5.2018.pdf