Authority: National Company Law Tribunal Kochi Bench
Order Date: 10 June 2026
Case Overview
The application IA(IBC)/277/KOB/2024 was filed by Jasin Jose, the Bankruptcy Trustee in the matter of M/s JM Financial Assets Reconstruction Company Ltd vs. KG Paul. The petition was registered under Regulation 12(3) of the IBBI. The Trustee sought directions from the Tribunal for the respondent to cooperate with the bankruptcy process, specifically to provide certain details mentioned in paragraph 7 of the application, hand over possession of assets, and submit all other required details.
During the proceedings, learned counsel Mr. Vinod P V appeared virtually for the Bankruptcy Trustee. No representation appeared on behalf of the respondent, KG Paul. The counsel for the Trustee submitted that valuation had been taken in the matter and expressly stated that he did not wish to press this application. The counsel reserved the right to file a fresh application in the future if necessary.
Final Outcome
The NCLT Kochi Bench, comprising Member (Technical) Shri Ravichandran Ramasamy and Member (Judicial) Shri Vinay Goel, disposed of the application based on the applicant's withdrawal. The order grants liberty to the Bankruptcy Trustee to file a fresh application in the future if needed. No penalties, directions, or other orders were issued against the respondent.
Topics: Insolvency Proceedings, NCLT Order