Authority: National Company Law Tribunal Kochi Bench (Shri Vinay Goel, Member Judicial; Shri Ravichandran Ramasamy, Member Technical)
Order Date: 10 June 2026
Case Overview
This matter concerns an application (IA(IBC)/280/KOB/2024) filed by Bankruptcy Trustee Jasin Jose in the main petition CP(IBC)/46/KOB/2023 between M/s JM Financial Assets Reconstruction Company Ltd and Mathew John. The application was filed under Regulation 12(3) of the IBBI regulations. The Bankruptcy Trustee sought directions from the Tribunal to compel the respondent, Mathew John, to cooperate with the bankruptcy process, provide specific 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, Mathew John. The counsel for the Bankruptcy Trustee informed the Tribunal that a valuation had been undertaken in the matter. However, the counsel stated that they did not wish to press the application further at this stage, while reserving the right to file a fresh application in the future if necessary.
Final Outcome
The NCLT Kochi Bench disposed of the application IA(IBC)/280/KOB/2024 based on the applicant's request not to continue with it. The order grants the liberty sought by the Bankruptcy Trustee to file a fresh application in the future if the need arises. The matter stands closed without any directions being issued against the respondent.
Topics: Insolvency Proceeding, Asset Reconstruction, NCLT Order