Authority: National Company Law Tribunal (NCLT), Kochi Bench
Order Date: 10 June 2026
Case Overview
This application (IA(IBC)/273/KOB/2024) was filed by the Bankruptcy Trustee, Jasin Jose, in the matter of JM Financial Assets Reconstruction Company Ltd vs. Reena Paul (CP(IBC)/48/KOB/2023). The application was filed under Regulation 12(3) of the IBBI (Insolvency and Bankruptcy Board of India) regulations. The Bankruptcy Trustee sought orders from the tribunal to direct the respondent, Reena Paul, to cooperate with the bankruptcy process. Specific prayers included directing the respondent to provide details mentioned in paragraph 7 of the application, hand over possession of assets to the Bankruptcy Trustee, submit all other required details, and cooperate with the bankruptcy process.
During the proceedings, learned counsel Mr. Vinod P V appeared virtually for the Bankruptcy Trustee, and learned counsel Mr. Vinay Mathew Joseph appeared virtually on behalf of the respondent, Reena Paul. Counsel for the Bankruptcy Trustee submitted that a valuation had been taken in the matter and stated that he did not wish to press the application. He further reserved the right to file a fresh application in the future if necessary.
Final Outcome
The NCLT Kochi Bench, comprising Shri Vinay Goel (Member Judicial) and Shri Ravichandran Ramasamy (Member Technical), disposed of the application. The disposal was a direct result of the applicant's decision to not pursue it further. The order grants the liberty sought by the applicant to file a fresh application in the future if the need arises. No other orders were passed, and no findings were made on the merits of the case.
Topics: Insolvency Proceeding, NCLT Order